Thunderbird Magazine, Volume 82, Number 2 1982 Winter

CONTENTS
"If all the dollars Poland owes
Western banks were laid
end-to-end, they would encircle the
globe fifty-seven times." Circular
logic, you say? A vicious circle or
virtuous circle, you ask? Credits for
the catch line go to The Economist,
which in a recent issue chronicled
in terna tional banking's fall from
grace, in an article entitled" A
Nightmare of Debt." If a more
prosaic version of this saga is
preferred, enter Hollywood's
pedestrian interpretation of
international finance, rendered by
Jane Fonda in the movie
"Rollover." Indeed, the media have
made obituarizing quite fashionable
of late. But apart from such
scenario-making, a relentless
spotlight justifiably shines on our
fragile international banking
system, focused on such
imponderables as:
• the etiology of dysfunction
• the apparent failure dynamic
• the appropriate response
mechanisms
It is to these and other cosmic
issues (in keeping with the
astronomical analogies) that this
piece is addressed; however, no
universal claims will be made. 1
'To the reader disinclined to puns, I extend my
apologies.
I NTERNATIONAL H~~~~~h~~!e~:~~n~~oos,
BAN KI NG Ame:ica's role in ~te:national
• bankmg was very lImIted, a
• consequence of strong ethnocentric
bias, cultural isolationism, and a IS
THE
PARTY
OVER?
by Frank Tuzzolino
Frank Tuzzolino is currently an
Assistant Professor of Finance in the
World Business Department, in his
second year at AGSIM. A native New
Yorker, he has taught at Long Island
University, SUNY, Manhattan College
and Arizona State University. Former
corporate employers include Citibank,
Harris and CBS. He has also consulted
for McGraw Hill and Frost & Sullivan,
both in New York City, and is presently
a partner in a venture capital firm in
Phoenix.
minor role in international trade.
As always, regulation didn't help,
i.e., a prohibition on any form of
branch banking by national banks.
With the passage of the Federal
Reserve Act of 1913, a foreign
presence began to emerge. Banks
had hitherto pursued such
traditional international banking
activities as foreign exchange and
the sale of letters of credit from
their domestic offices. Many,
particularly the regionals, still do.
Once the doors were opened to
foreign branching by national
banks, however, the response was
swift. Additional impetus was
provided by Congressional passage
of the Edge Act (1919), which
enabled U.S. banks to establish
special subsidiaries (Edges) to
engage in international activities
proscribed domestically, e.g.:
• foreign exchange trading
• international lending
• issuing or confirming letters of
credit
• accepting deposits from foreign
parties
• creating bankers acceptances
• international investment banking
and investment management
services
IS
THE
PARTY
OVER?
Mapping the Ascent Trajectory
Global banking institutions
facilitate international economic
transactions the same way
hometown banks help local
business. Both finance trade and
investment by creating money and
credit and by channeling resources
from savers to borrowers.
International banking and finance,
however, is often more complex
than the domestic version.
Complications arise partly because
of possible problems with foreign
currencies and partly because
physical and legal barriers limit the
free flow of goods, services and
payments across national
boundaries. Useful credit
information on business firms in
foreign countries is also relatively
scarce.
Despite these complications, U.S.
international banking activity has
grown enormously in recent years.
In part, this trend reflects the
growth of international commerce.
But it is also a result of U.S. and
foreign banks establishing more
offices outside their home
countries. As the world's
economies become more entwined,
these banks are motivated to serve
existing customers better, to attract
new customers, and to diversify
their sources of earnings and
funds.
The enabling legislation of the
Wilsonian era was a watershed for
international banking. Yet the
emphasis by American banks on
such activity is a far more recent
phenomenon. Assets of major
foreign branches of U.S. banks rose
16% in 1981, to $376 billion by
year-end, reflecting continued
growth in foreign branch lending.
Though numerous reasons can be
cited to explain this ascent, the
profit lure dominates. This is
particularly true for money-center
2
banks, which derive roughly % of
their income abroad (see Table 1).
Other international banking stimuli
include:
• chronic U.S. balance-of-payment
deficits
• government regulation
• portfolio diversification
• defense of a domestic customer
base
• comparative advantages in skills
and resource transfers
As the U.S. became a major
capital exporter in the post-WWII
period, its commercial banks
followed customers to developing
countries and major industrial
centers. Some of these banks
expanded internationally because
they felt their distinctive
competence bestowed comparative
advantages in a certain area, as did
their global scanning capability
(internalization theory).
Portfolio-theoretic considerations
also motivate bank expansion.
Diversification can take place
because loan demand and default
patterns differ abroad. With an
internationally diversified customer
base and loan portfolio, a bank's
cash flows can be de synchronized,
and its portfolio efficiency
improved.
Of the five factors cited, the first
two-government regulation and
balance-of-payments deficits-have
been the most relevant in
accelerating the migration of U.S.
banks. United States capital
controls during the mid-1960s
(~tere~t equalization tax, foreign
dIrect mvestrnent regulations, and
the voluntary foreign credit
restraint program) pushed
American banks abroad, and
TABLE I
encouraged them to fund their
overseas lending from foreign
branches. At the same time, banks
were hampered by deposit interest
rate ceilings (Regulation Q) and
disintermediation problems; they
countered with foreign branches
offering Eurodollar time deposits
and certificates of deposit at rates
competitive with alternative
domestic (nondeposit) media.
These developments, coupled with
continuing OPEC problems of the
1970s, fueled a stron~ rise in
petrodollar recycling and
aggravated a festering U.S.
balance-of-payments problem. Such
turbulence has spawned an array of
organizational approaches to
international banking, some of
which appear in Table II.
Current Trends-In Quest of a
"Level Playing Field"
Though default and
reschedulings concatenate recent
events, the foreign banking
invasion of the U.S. warrants some
attention. The stage of international
banking has grown larger, as has
the cast of competitors that jockey
for position within it. U.S. banks,
once on the leading edge of two
decades of change, are now a
smaller factor in a much broader
market. Attracted by the huge,
politically safe bases for foreign
2"Recycling" refers to the process whereby the funds
of surplus countries are loaned back to deficit
countries. The recycling may be direct, whereby a
government such as Saudi Arabia lends funds to a
deficit country such as Brazil, or indirect, whereby
Saudi Arabia deposits funds in a bank, which then
makes a loan to Brazil.
International Banking's Risks and Rewards
1981
Foreign
assets
Foreign net
income
Millions of dollars
Return on
Foreign Assets
Percent
BankAmerica Corp. . ............ $48,373 ..... $245 ........... 0.51 %
Citicorp ........................ 70,177 287 ........... 0.41
Chase Manhattan Corp .......... 44,758 ..... 247 ........... 0.55
Manufacturers Hanover Corp. . . .. 30,037 ..... 120 ........... 0.40
J.P. Morgan & Co .............. 30,278 .... 234 ........... 0.77
THUNDERBIRD WINTER 1982
capital investment, promising loan
demand and access to domestic
U.S. dollar funding, a number of
foreign banks have made large
inroads into the U.S. market.
Recent entries include:
• Holland's Algemen Bank's
purchase of LaSalle National
Bank, Chicago.
• British Midland Bank's $820
million successful bid for
California's Crocker National
Bank.
• Hong Kong and Shanghai
Banking Corporation's takeover
of Marine Midland Bank of
Buffalo, New York.
• Banque Nationale de Paris'
acquisition of Bank of the West,
San Jose, California.
Assets of foreign banking
institutions in the United States
rose 19 percent in 1981 to $223
billion. The increase was smaller
than the 35 percent increase
recorded in 1980, but it still
exceeded the 10 percent increase in
the assets of domestic banks during
the same period.
The expansion of the activities of
foreign banks in the U.S. market
reflected in these figures represents
a continuation of a trend that began
in the early 1970s. In 1973 there
were 111 foreign banking
institutions with assets of $30.5
billion operating in the United
States. All of these institutions
were chartered and organized
under the banking laws of
individual states and were
geographically concentrated largely
in the financial centers along the
Eastern seaboard. During the next
five years both the number of
foreign banks in the United States
and the scope of their activities
expanded dramatically as more
states passed enabling legislation
permitting foreign banks to
establish operations within their
boundaries. By 1978, the number of
foreign branches and agencies had
reached nearly 260, and their total
assets were over $103 billion.
The growing involvement of
foreign banks in the U.S. financial
system prompted the passage, in
September 1978, of the
International Banking Act (IBA),
which, for the first time, provided
for federal supervision and
THUNDERBIRD WINTER 1982
TABLE II
Types of International
Banking Offices
Commercial Banks. The larger
commercial banks usually have both
domestic and international operations.
The international departments make
international loans and deal in letters
of credit and collections, often through
their correspondent foreign banks.
They may also deal in foreign exchange
and provide trust and other services to
corporate customers and individuals.
Deposits they take in U.S. offices are
subject to reserve requirements, and
Regulation Q limits the interest rates
that banks may pay (except for IBF
deposits--see below) on demand and
time deposits. The maximum loan a
bank may make to anyone customer is
subject to regulatory limits based on
the bank's capital. U.S. chartered
(federal or state) banks may be wholly
or partly owned by foreigners. A
subsidiary bank is incorporated
separately from the foreign bank which
owns it.
Foreign Bank Branches. This
organization is an integral part of the
foreign bank that establishes it. A full
service branch can perform the full
range of banking services; its lending
limit is based on the parent bank's
capital. Foreign banks have established
full service branches in the U.S. just as
U.S. banks have established
full-service branches in other countries.
Limited operations, or "shell,"
branches (like those located in the
Bahamas and the Cayman Islands) are
used by U.S. and foreign banks to
avoid home country regulations and for
tax purposes. These branches exist "on
paper" only; loan and deposit
transactions are determined at the
parent bank and then legally recorded
or "booked" at the bank's offshore
branch.
regulation of foreign banks
operating in the United States. The
IBA created a regulatory structure
aimed at promoting competitive
equality between foreign and
domestic banking institutions in the
United States (see Table III).
Foreign Bank Agencies.
Agencies are authorized to make
business loans, finance international
trade, and conduct money market and
foreign exchange operations, but they
may not perform trust functions. They
also may not accept demand or time
deposits but may hold credit balances
for customers. Agencies' funds are
obtained mainly by borrowing from
foreign affiliates or in the U.S. money
market. There is no regulatory limit on
the size of a loan to a particular
borrower.
Edge Act Corporations. The
Edge Act (1919) permits domestic banks
and the International Banking Act of
1978 permits foreign banks to establish
either banking or investment Edge
corporations. The dominant form, the
banking Edge, functions like a full
service bank-but only for
international business. Investment
Edges do not engage in banking
activities; instead, they exist to hold
and manage an equity portfolio of
foreign investments.
International Banking
Facilities. IBFs may be established
by U.S. depository institutions and
U.S. offices of foreign banks to serve
as record-keeping entities at mainland
offices. They are similar to the offshore
"shell" branches that banks have
maintained in such places as the
Bahamas and Cayman Islands to
handle foreign business. IBFs are
permitted to conduct only international
banking business such as taking
foreign deposits and making foreign
loans. Total assets of IBFs of U.S.
banks totaled about $48 billion by
year-end 1981, evenly split between
those established and operated by
indigenous U.S. commercial banks,
and those held by U.S.-based branches
and agencies of foreign banks.
Implementation of the IBA was
meant to provide a more level
playing field; the growth of foreign
banking activity has decelerated,
but remains brisk. Some U.S. banks
have breathed a premature sigh of
relief. Geographic dispersion of
3
IS
THE
PARTY
OVER?
some foreign banks within the U.S.
is already history. An end to
McFadden (we've had many
end-arounds to date) would leave
many such institutions, e.g.,
Barclays Bank, very favorably
positioned. One could argue
similarly if Glass-Steagall were
revoked, in that the so-called
universal banks of Europe would
enjoy a distinct competitive edge in
the U.S., developing and refining
expertise in a "department store"
variety of services and products.
Ironically enough, another
homespun attempt to make the
playing field more level (this time
with domestic banks in mind) will
have profound effects on the
subsequent nature and scope of
international banking. To this we
0:-ve thanks to the most sweeping
pIece of financial legislation in U.S.
history, the Depository Institutions
Deregulation and Monetary Control
Act (MCA) of 1980, provisions of
which appear in Table IV.
The face of U.S. banking has
since been changing at breakneck
speed, rapidly eroding the
time-worn precepts about what
constitutes a bank and a thrift
institution, the services each can
offer, and their legitimate domains.
The MCA hallmarked a financial
revolution, marked in turn by a
redirection of much energy and
emphasis by U.S. banks to their
domestic activities (a born-again
ethnocentricity). Indeed the
financial congeneric, American
style, is upon us. Now you can buy
your socks where you buy your
stocks (Sears of course). Add to
your list of this growing breed the
likes of Dow 30 newcomer
Shearson/ American Express;
Prudential-Bache; Xerox and its
insurance subsidiary Crum and
Forster; Citibank and B of A, whose
respective sights are set on
4
TABLE III
Provisions of the
International Banking Act of
1978
• Limits the interstate branching of
foreign banks.
• Provides for federal licensing of
branches and agencies of foreign
banks.
• Authorizes Federal Reserve Board to
impose reserve requirements on
branches and agencies of foreign
banks.
• Gives broader powers to Edge Act
corporations to compete more
effectively with foreign banks.
• Subjects foreign banks operating
branches and agencies to the
non banking prohibitions of the
United States Bank Holding
Company Act.
TABLE IV
What the Monetary Control
Act Did
• The Federal Reserve set new and
lower reserve requirements for all
commercial banks, savings banks,
and savings and loan associations,
instead of just for Fed member
banks. These are being phased in
over three years for member
banks, seven years for other
institutions. The Fed also becomes
lender of last resort for all 40,000
depository institutions.
• All depository institutions can offer
interest-bearing checking (or NOW)
accounts, with an initial maximum
interest rate of 51/4 percent. Such
accounts were previously available
only in New England, New York,
and New Jersey; and the maximum
rate is 5 percent.
• All deposit interest ceilings,
including the Fed's Regulation Q, are
being phased out over six years.
• Federally chartered savings and loans
and savings banks gained new
lending and investing powers,
enabling them to make more
consumer loans, offer credit cards,
and invest in commercial paper and
corporate debt.
• State usury laws governing certain
loans were wiped out for three years,
by which time states are supposed to
raise outdated borrowing rate
ceilings.
discount brokers Quick & Reilly &
Charles Schwab (farewell
Glass-Steagall). Also bid adieu to
McFadden, given that the Fed
recently sanctioned interstate
mergers, i.e., Citibank's acquisition
of California thrift Fidelity Savings
and Loan.
Buttressing such strategic
redeployment are institutional
changes prompted by the silence of
MCA on some regulatory issues.
The driving forces behind these
recent innovations are the
unexpected and abrupt lurches in
the level and volatility of interest
rates, and the major technological
improvements in the transmission,
processing and storage of
information. This new "line of
commerce" includes sweep
accounts, retail RPs (repurchase
agreements), debit cards, bank
money-market funds, ATS and
NOW accounts, just to mention a
few. One can see why U.s.
bankers, facing the confluence of
record high real interest rates,
plummeting commodity prices, and
mountains of LDC debt, may
welcome the inevitable bloodshed
in this new financial arena. Thus
domestic banking's new marketing
mix will be fully exploited, as
bankers scurry to cut their risk
overseas. (See Table VI.) Exit the
"3-6-3" syndrome.,,3
International Lending -
Syndromes Galore
Having extricated themselves
from near-defaults in Nicaragua,
Turkey & Poland, bankers now face
the monumental task of managing
a carrion of reschedulings, i.e., the
"merry-go-round" syndrome. Their
biggest headache is Latin America,
where $55 billion is tied up,
inclu~i~g $.9 billio~ in Argentina,
$15 billion In Brazil, and $18 billion
in Mexico. Refinancings are not
only growing more frequent, but
exploding in magnitude. The
rescheduling of Poland's 1981 debt
alone came to $2.2 billion.
Argentina's $23 billion
indebtedness to Western banks
keeps loan officers quaking in their
boots. At the end of 1980, Brazil,
3Pay depositors 3%, lend their money at 6%, and be
on the golf course by 3 P.M. It seemingly is a
monotonically increasing function of a bank's
distance from the 74° meridian Uust a Yankee barb).
THUNDERBIRD WINTER 1982
Mexico & Argentina together had
loans outstanding from the nine
largest American banks amounting
to 100% of these banks' capital and
reserves. Don't mention the word
"domino" at the Paris Club! Even
those expansion-minded regionals
that went international in the 1970s
(a trendy choice) are now chafing at
the bit.
International lending is becoming
increasingly entwined in politics, as
evidenced by the Iranian and
Argentine asset freezes, along with
Citibank chairman Walter Wriston's
comments on Polish Solidarity. As
chronicled by Anthony Sampson in
his book, "The Money Lenders,"
bankers seem to be suffering from
yet another syndrome-herd
instinct. This lemming syndrome
implies a perception by bankers of
a global safety net, an invalidation
of the old rules, under which rash
bank decisions would have put
them out of business. This delusion
of "no-fault banking" is but a
subset of a more serious no-fault
mindscape plaguing U.S. society.
Bankers' willingness to chain
themselves together when standing
at the edge of a precipice has very
effectively averted any suicidal
leaps. They feel assured that some
TABLE V
instrumentality, be it the U.S.
government, the I.M.F., the World
Bank, Russia (the so-called
"umbrella theory"), the Bank for
International Settlements, or even
"deus ex machina," will make sure
they don't lose money on their
sovereign loans. As such, they are
destined to become handmaidens
of U. S. foreign policy.
Growing numbers of banks,
meanwhile, are resorting to loans
of shorter maturities. Others are
looking for "stand-alone
transactions," whereby a borrower
stores a commodity in a warehouse
outside its jurisdiction. Yet another
tactic is to co-finance with the
World Bank. Mounting
reschedulings increase the risk that
some banks, particularly regionals
(read spoilsports), will cut and run,
pOSSibly triggering a default if loan
agreements so stipulate. Thus the
major banks have a responsibility
to help smaller ones in trying to
hold a credit together. They help
their own cause via an elaborate
system of legal tripwires, as well as
loan covenants peppered with
cross-default clauses.
So to what clandestine
rendezvous does this cast of
crepuscular bankers, wily finance
International Banking Triads
ORACLES WORRIES
OECD Brazil
Morgan Mexico
Guaranty
World Bank Argentina
CREDITORS
Governments
Commercial Banks
International Agencies
ADVISORS SHAKERS
Kuhn Loeb Tom Clausen
(World Bank)
Lazard Freres Henry Wallich
(FED)
S.G. Warburg Tom Theobald
(Citibank)
DEBT GUIDES
Debtor Reporting System
(World Bank)
Development Assistance
Committee (OECD)
International Capital Market
Statistics (CMS)
STRATEGIES
Global Scanning (Money-center banks & consortia)
Product differentiation (Wholesale banking and financial services)
Market stratification (Middle-market customers)
THUNDERBIRD WINTER 1982
ministers, Zurich gnomes,
chameleonic accountants,4
Cassandras and c;cenario builders
go from here? We already have a
book and a movie. Bright and
hopeful international lending ideas
abound, some of which include:
• multilateral insurance of bank
loans
• capital cost to current cost
conversion through leasing
• more co-financing (the "I Wanna
Hold Your Hand" syndrome)
• tougher "conditionality"
• use of IMF resources in the
upper-credit tranches
• more comprehensive insurance of
private investment
• improved early-warning systems
• staggered & extended
disbursements to country
borrowers
• a global regulatory mechanism
(wider fish-eye lens)
• increaSingly larger bad-debt
reserves (a European preference)
International Banking Prospects
The major worries and issues
include:
• rapidly accelerating debt, of
which a dollar-thirsty thirteenS
countries account for almost
two-thirds (of over a $1/2-trillion
total); Brazil and Mexico alone
owe nearly one-quarter of the
total.
• burgeoning debt service ratios
(21 % in 1981) for developing
countries, as spreads widen and
maturities shorten.
• 75% of the private lending,
which accounts for over 713 of the
debt of the thirsty thirteen, is at
floating rates.
• many of the big borrowers are oil
importers, such that export
earnings (nearly %) are devoured
by interest payments and import
bills.
• no agreement on how banks
should set aside reserves for their
international lending, or what
"prudential reserves" would
comprise, currently exists.
• a need for uniform accounting
COlltillued 011 pase 7
"They have to be chameleonic to handle those
slippery, if not at times slimy, accounting numbers.
'A triskaidekaphobe's nightmare.
5
AIl? If AGSIM didn't have an
alumni association, it would have
to invent one. In fact, that is what
has been happening; we've been
inventing your alumni association.
The proposed name is Associated
Thunderbirds International (A. T.I.).
It will be a dynamic and constantly
growing organization with a flexible
structure.
The largest component will be
Associated Thunderbirds, Inc.
(USA). It will provide the
communication and coordination
for all Thunderbirds living in
American states, commonwealths
and territories. The USA unit will
be divided into regional councils,
and urban chapters where sufficient
numbers and volunteer leaders
exist.
Outside the U.S., multinational
regional groups, national units and
urban chapters will be organized.
For example, Associated
Thunderbirds Latin America will
cover Central America, the
Caribbean and South America.
Within that region there are
sufficient numbers for national
units in Mexico, Venezuela, and
Brazil. Urban chapters for Mexico
City, Caracas, Sao Paulo, and Rio
de Janeiro may be formed;
however, the Mexico national unit
and the Mexico City chapter would
be comprised of nearly the same
people. Similar cases exist in
Singapore, Hong Kong, and a few
other locations.
As mentioned elsewhere in this
issue, Japan and Korea national
units and west continental Europe
regional groups have already
organized. Recognized chapters
would have voting seats on the
next level of organization; the
national units, etc. There are many
6
• T-BIBDS
UNITE!
A ssociated T hunderbirds I nternational
A@~IMI American Graduate School
of International Management
[1973 - ]
T@~TIIMI Thunderbird Graduate School
of International Management
[1968 - 1973]
&IWlf American Institute of Foreign Trade
[1946 - 1968]
Associated Thunderbirds, Inc. [U.S. of A.] :
*Atlanta
Greater Chicago
Florida (Greater Miami)
Greater Dallas - Forth Worth
Greater Los Angeles
*Orange County, California
*Greater Pittsburgh
*Greater San Diego
New England (Boston-Providence)
Greater New York
Greater Houston
*Greater Kansas City
San Francisco Bay Area
*Seattle - Tacoma Area
Greater Washington, D.C.
# Puerto Rico
Associated Thunderbirds, Europe
Associated Thunderbirds, [U.K.]
Associated Thunderbirds, [Germany]
Associated Thunderbirds, [France]
Associated Thunderbirds, Far EastlWest Pacific
Associated Thunderbirds, [Japan]
Associated Thunderbirds, [Korea]
Associated Thunderbirds, [Hong Kong]
Associated Thunderbirds, [Singapore]
Associated Thunderbirds, Latin America
Associated Thunderbirds, [Brazil]
Associated Thunderbirds, [Mexico 1
Associated Thunderbirds, [Venezuela]
Associated Thunderbirds, Middle East
Associated Thunderbirds, [Saudi Arabia]
*Organizing or Irregular programming
#May have duel affiliation with A.T., Latin America
THUNDERBIRD WINTER 1982
th!ngs to be resolved and the plan
will be modified in response to
your reactions. For example, we
need to determine who and how
many shall serve as directors at
each level of organization, what
sort of ex-officio, elective and
appointive process should be used
to determine officers and
succession for each unit and what
relationship shall exist between and
among the various levels and units.
There are a good many models and
ideas from which to choose.
We need your response.
Preliminary reaction from a small
number of alumni who have visited
campus or attended chapter
leadership group sessions has
favored some sort of fee, dues, or
life membership payment to build
an operating fund endowment for
ATI. We want all alumni of the
school involved. Other dues paying
associations we've contacted can
only count some 15 to 40 percent of
theIr potential members willing to
pay dues. Are Thunderbirds
different?
Whatever we decide about
money, we need leaders. Please
volunteer and nominate other
'f-Birds for organizational roles. The
international, regional and national
board posts will largely be policy
and communication posts with
occasional operations committee
and conference work involved.
!v1any T-Birds have been doing
mvaluable work recruiting
students, referring jobs and
employers, and assisting in fund
raising for years. Now the
additional opportunity of building a
formal alumni communications and
advisory network is available.
All Thunderbirds have a vested
interest in the reputation and
effectiveness of the school. Alumni
achi~vement, broadly communicat­ed,
IS one of the major pillars of
that reputation. An alumni
association is a primary means for
enhancing communication and
providing counsel to the school as
it continues to pursue excellence
and its founders' dream. Please, let
us hear your thoughts and
nominations!
Tom Kidd
Director of Alumni Relations
THUNDERBIRD WINTER 1982
IS
THE
PARTY
OVER?
Continued from page 5
procedures and disclosure
standards.
• a "tiering effect" in interest rates.
The particulars are grim. Third
World debt has more than
quintupled in a decade, and by the
end of this year could top $600
billion, approximately half of it
owed to private banks. Repayments
falling due in many cases rival the
debtor nations' foreign exchange
earnings, and the cash-flow
squeeze is expected to worsen in
1983 and 1984. This year alone,
more than a score of debtors are
likely to seek rescheduling of
upward of $30 billion in payments
falling due. That would be three
times the amount that couldn't be
TABLE VI
Domestic Banking's
Changing Marketing Mix
Product-retail RPs; sweep
accounts; jumbo CDs;
money market accounts;
truncation; alternative
mortgage designs;
unbundling; a new
"line of commerce."
Place-interstate; a national
market; a new "turf";
consolidation &
homogenization.
Price-full cost pricing;
unbundling; price
competition.
Promotion-aggressive &
predatory, via
boutiques &
congenerics;
VIDEOTEX; nonprice
strategies; self-service
& shared delivery
systems.
paid on time in 1981 and more than
six times the rescheduling needed
in 1980. Week by week the roster
of foreign defaulters (actual or
prospective) expands, and the
quality of loans to troubled
countries (& domestic companies,
for that matter) grows more
suspect.
To conclude on a more sanguine
note, there is little doubt that the
rate of growth of international
lending over the next few years will
decelerate, and the terms of that
lending, i.e ., yields and maturities,
will harden. But there's more to
banking than just lending. The U.S.
is being inexorably pulled into the
orbit of an increasingly integrated
&Iobal , capital , market network. The
finanCIal serVICe needs of this
market, however, are virtually
untapped, To be fully exploited,
legislative initiatives, as well as the
present delivery system (branches),
will have to change somewhat.
Superior institutional technology
should allow U.S. banks to get
more business from foreign MNCs.
Productivity improvement in the
industry will be the linchpin of
such change. Though scares that
the international financial system
may unravel have not been fully
scotched, the potential rewards of
the g.ame seem to adequately reflect
the rIsks. There is lingering
suspicion that, despite their lament,
banks do rather well, even from
rescheduling. In fact, fee-earning
merchant bankers have found a
booming new business advising
hard-pressed countries how to
manage their debts. So despite its
nightmarish leitmotif, even the
crazy-quilt world of international
banking sports a silver lining of
sorts.
7
An
Interview
with
Dr.
Gulick
by Nancy J. Greenberg '83
After 18 years of service as
American Graduate School of
International Management's Dean
of Admissions, Dr. Robert L.
Gulick, Jr. has retired from this
position on the Thunderbird
Campus. While he intends to
remain with the school as professor
of international studies and foreign
student advisor, this November
Dr. Gulick handed his former
responsibilities over to his assistant
and long-time friend, John James
Arthur, '57.
The position of Dean of
Admissions today is much different
from the one which Dr. Gulick
accepted in March of 1964. The
school, and particularly his office of
admissions has undergone a
metamorphosis, undoubtedly due
in part to the ideas and the vitality
which Dr. Gulick brought to
AGSIM. His rich and varied
experiences prior to his
appointment here, as well as his
continuing achievements in office,
have added much to the
development of the school.
As befits the international nature
of AGSIM and the tradition of its
personnel, Dr. Gulick has had
much experience in international
affairs, ranging from business
enterprise to service in the public
sector. The California-born and
educated former dean has traveled
much of the world. At the time he
accepted his position with the
school, then called The American
Institute for Foreign Trade, Gulick
was in Libya where he was
engaged in supplying material to
oil exploration companies. His
public service work preceded this,
beginning with foreign service in
the U.S. Bureau of Customs. There
he held the position of appraiser
for five years. After World War II,
Dr. Gulick was appOinted
economist at the Carnegie
Endowment for Interna-tional
Peace in New York
and Secretary- Treasurer
for the Committee on
International Economic
Policy, working for the
continuation of the
reciprocal trade agree­ments
program and for
the approval by
Congress of the British
Loan Agreement.
At this time, he also
had the privilege of attending the
first postwar Congress of the
International Chamber of
Commerce in Montreux,
Switzerland, as well as participating
in events relating to the formation
of the United Nations in San
Francisco. In the British Loan
Agreement campaign, Dr. Gulick
was involved in writing a pamphlet
setting forth the reasons for
approval, at which time he
developed a question and answer
technique which he has
subsequently used with great
success in the literature regarding
AGSIM, to respond to the many
questions of potential T-Birds.
Dr. Gulick has also had extensive
experience in teaching and
lecturing. When his term with the
Carnegie Endowment carne to an
end, he returned to his native and
beloved state to lecture on the
Berkeley Campus of the University
of California, where he had
received his M.A. and Ph.D. while
working in the United States
Customs Service. He edited and
published extensively there on
topics pertaining to world trade
policy and to the Middle East, his
area of expertise and the homeland
of his wife and current Assistant
Professor of Arabic at AGSIM,
Bahia Gulick. He also engaged in
some extramural work at the
university, editing pamphlets on
tariff protection for farm products
and arranging for guest speakers
before business groups. He
arranged for the visit of the former
Shah of Iran to the Berkeley
campus. In November 1976, he
lectured at the universities of
Baghdad, Sulaymaniah, and Mosul
in Iraq.
When Dr. Gulick arrived on the
Thunderbird Campus in 1964, the
job of Dean of Admissions was a
nebulous one. He recalls, "There
was not much in the way of
briefing. At the time, I understood
that my chief task would be to
travel around the nation and build
up the student body, which was
really too low to make the school
economically viable." And build he
did! In the spring of 1964, there
were 221 students enrolled in The
American Institute for Foreign
Trade. Eighteen years later, in the
spring of 1982, student enrollment
had reached 1,084. It is here, in
THUNDERBIRD WINTER 1982
generating interest in AGSIM
among potential T-Birds, that
Gulick sees his greatest personal
achievement. Though he modestly
states, "I don't think I have
achieved anything alone," and
stresses the help he has received
from his assistant and new Dean,
John James Arthur, as well as from
President Voris and many faculty
members, he admits, "My greatest
contribution was the creation of a
body of Alumni Educational
Counselors to carry the
preponderating share of the
recruitment burden." This program
of alumni counselors located
throughout the world to serve as
information resources, was initiated
by Dr. Gulick in January 1965, and
has continued to meet with great
success. In addition to the total
student population increasing by
four times its 1964 size, the number
of women has increased from five
to 374, and the foreign students
from 13 to 274.
Dr. Gulick also sees changes in
the quality of the school offerings
over the years. When he became
Dean, the curriculum offered only
one course in management, as
compared with the wide variety of
courses now taught by the World
Business Department. The major
emphasis of the school was on
Latin American Studies. There were
no classes in German, Japanese,
Chinese or Arabic. Dr. Gulick
himself introduced the first course
on the Middle East, which he and a
political science professor from
Arizona State University taught in a
team approach. He was also a
strong supporter of the summer
session and of Winterim, which he
believes has become a very
important showcase offering many
programs not available elsewhere,
like International Agribusiness and
International Insurance and Risk
Management.
As to the future, regarding the
school enrollment policy, Dr.
Gulick projects, "I think that it's
quite all right to remain somewhere
around our present level. But I
think that the way to enrich the
curriculum is to encourage Arizona
State University to offer courses on
this campus and to permit our
students to receive a maximum of
nine hours of relevant credit as
compared with the present three."
THUNDERBIRD WINTER 1982
On a more personal level, Dr.
Gulick is interested in pursuing
some ideas concerning the
importation/exportation of new
products, many of which are in the
food line, as well as possibly
continuing on at AGSIM in a
part-time professor/advisor
capacity. He is also currently
involved in real estate in California
and Arizona, and serves on the
Board of Directors of the Glendale
Community Council, activities
which he intends to continue. On
the "pro bono publico" side, Dr.
Gulick's ultimate goal is to "do
everything possible to further the
cause of peace in the world." He is
a member of an association of
university professors, with
headquarters in Germany, which is
currently concentrating on this
issue of world peace. It is an issue
of utmost importance to the people
of the world, according to Dr.
Gulick. As a member of the Baha'i
faith, he believes that, "War is the
most preventable of accidents," and
that "the chief duty of every person
is to work for the unity of the
human race."
With a record of great success in
achieving goals set forth both here
at AGSIM and in the other phases
of his life, and with the
humanitarian objective he wishes to
pursue, Dr. Gulick steps down
from his position of Dean of
Admissions, a position he has
fulfilled to the maximum. As he
moves on to other endeavors, he
leaves his successor, quite
ironically, with a very different
challenge from that which he faced.
His achievements in
communicating the AGSIM
experience to future T-Birds has left
the admissions' office with the task
of trying to keep enrollment figures
down, rather than to stimulate
them. This is indeed a tribute to
Dr. Gulick.
Nancy J. Greenberg (Winter '83) is a
graduate of the Pennsylvania State
University ('82). She holds a bachelor's
degree in Advertising from the School
of Journalism there. Her current areas
of emphasis at AGSIM are marketing
and European studies. She also serves
as an assistant in the Communications
Office at AGSIM.
WORLD
AFFAIRS
CONFERENCE:
FOCUS ON THE
MIDDLE EAST
Each year the World Affairs
Conference brings together
well-known leaders of government,
industry, and academia to share
with the students, faculty, local
business people, and the general
public their knowledge and
expertise on an area of the world.
The 1983 World Affairs
Conference entitled "The
Development of the Middle East"
will take place February 17-19 and
will consist of discussion panels on
relevant socio-economic and
political issues affecting Middle
East countries. The eight discussion
topics are: The Role of Islamic Law
in Business, U.S. Foreign Policy,
Business and Political Stability in
the Tri-continental Area, the Role
of Women, Petrodollar Investment,
Banking and Finance in the Middle
East, Agribusiness in the Middle
East, and Modernization and
Development in the Middle East.
Several of the well-known
speakers who will be attending the
conference are: Mr. John Duke
Anthony, board member of the
American Educational Trust and
author of Arab States of the Lower
Gulf; Mr. John Law, former vice
president of Chase Manhattan Bank
and chief correspondent for the
Middle East at U.S. NEWS AND
WORLD REPORT; and Dr. Abu
Lughod, professor of Political
Science at Northwestern University.
Sheikh Zaki Yamani, the oil
minister of Saudi Arabia, is also
tentatively scheduled as a guest
speaker for the conference. The
1983 World Affairs Conference on
the Middle East should be one of
AGSIM's most significant events
offered to students, faculty, and
local business people. All AGSIM
alumni are cordially invited to
participate in the conference. For
more information, write: Dr. Issa
Peters, Faculty Advisor or Philip de
Sousa, Chairman, Box 262, AGSIM,
Glendale, Arizona 85306.
9
NEWS
FMC Chairman Cites
Five New Challenges
in International Trade
In accepting the school's 1982
International Executive of the Year
Award on October 14r FMC
chairman and chief executive
officer, Robert H. Malott, called on
the academic community to help
U.S. business and government find
solutions to five pressing problems
in international trade:
• The growing disrespect for
patents and industrial property
rights in the international
business community,
• The recent escalation of export
credit wars,
• The competition in tax
subsidies for export sales,
• The predatory manipulation of
foreign exchange rates, and
• The increase in non-tariff
barriers, which have prevented
free and fair access to world
markets.
As a key point, Malott
questioned whether the general
agreement on tariffs and trade
(Gatt), established in 1947 to
provide a framework for
international trade negotiations,
was able to handle these tough
new problems. Malott said, "The
issue we must face squarely is this:
Can Gatt handle the realities of
today? Or do we need new, more
comprehensive guidelines on which
to base future international trade?"
Malott elaborated on each of the
five major problem areas as follows:
Regarding industrial property
rights, Malott indicated that many
developing countries are trying to
change the rules of the Paris
Convention on Industrial Property
Rights so they can obtain
immediate and cost-free access to
10
President Voris (right), presents the
International Executive of the Year
Award to Robert Malott at the annual
Board of Trustees' dinner.
developed country technology.
"They have been pressing for
agreements which would allow
them to seize patented technology
and give it to their own domestic
firms if the multi-national company
did not exercise its patent rights
within a set time period-perhaps
as little as 30 months." Malott
indicated that FMC has been
working on legislation to give U.S.
companies greater recourse against
violators of U.S. patent rights.
Recently, credit wars have
escalated among industrial
countries, as they have resorted
increasingly to subsidized financing
packages to stimulate their exports.
Efforts to negotiate gentlemen'S
agreements on export credits have
thus far failed to curb the problem.
As an alternative, Malott proposed
establishing a new international
export credit agency to enforce
common rules on export financing.
Tax subsidies on export sales
have created enormous distortions
to international trade. The
industrial countries are wasting an
enormous amount of time, energy,
and money just to stalemate each
other's export subsidies. Malott
suggested that the industrial
countries devote their efforts
instead to reaching an
understanding on common
standards for export tax relief.
To discourage imports and
encourage exports, governments
have been systematically engaged
in exchange rate manipulation.
"This manipulation is not overt,
but is often hidden in a maze of
capital or financial market
controls," Malott said. To curtail
this, Malott suggested broadening
the scope of the international
monetary fund to include explicit
authority over exchange rate
manipulation. "The fund's member
countries could give the IMF the
power to impose sanctions on any
nations which did not allow their
currencies to move freely in
response to underlying market
forces."
The access of U.S. producers to
foreign markets has been
progressively restricted by such
non-tariff barriers as domestic
safety standards, import licensing
requirements, and local content
rules. "The U.S. represents the
biggest import market in the world
and, by and large, we've made this
great asset available to our trading
partners with relatively few
restrictions," Malott said. "We're a
country that truly believes in open
markets and the free entry of
goods, but our trading partners
must know that we are no longer
willing to tolerate one-way streets."
Malott concluded by saying that
"free access to all markets of the
world must be an unending
objective as we seek guidelines for
international trade."
THUNDERBIRD WINTER 1982
AGSIM Trustee
Honored by Public
Relations Society
Edward M. Carson, president
and chief executive officer of First
Interstate Bank of Arizona was
presented the first PHOENIX
Award for leadership in the field of
public relations. The award,
instituted this year by the Phoenix
Chapter of the Public Relations
Society of America to recognize the
CEO of an organization in Arizona
who has distinguished himself or
herself through the use of public
relations principles, was bestowed
on Carson at an October luncheon
at the Mountain Shadows Resort.
Alumnus Presents
Guide to Mexico City
Stephen M. Ringler ('69), division
vice president, trading operations,
International Multifoods, presents a
copy of his book, Descubra la Ciudad
de Mexico, to Lora Jeanne Wheeler,
AGSIM library. It is the only
reference guide of its kind in
Mexico City. It took two year's of
Steve's free time to research and
write the book, and to date more
than 30,000 copies have been sold.
Illustrations, depicting popular sites
for youngsters throughout Mexico
City, were done by elementary
school children.
This was Steve's first visit to
AGSIM since he graduated and he
combined the book presentation
with some recruiting for his
company.
THUNDERBIRD WINTER 1982
Dr. Frank JackIe, beloved by
thousands of Thunderbirds, died
on Saturday, December 18, 1982;
he was 73 years old. Dr. JackIe
had been a guest at the Class of
1957 Reception on Thursday,
December 16. His devotion to the
school and life-long achievements
as professor, language department
chairman and Dean of Students,
were honored in a memorial
service on Tuesday, December
21st. A fitting permanent
memorial will be determined.
AGSIM Co-ed Wins
Fiesta Bowl Queen
Runner-up
Dawn Cotton, an AGSIM second
semester student, placed second in
the November Fiesta Bowl Queen
competition in Phoenix. She will
attend numerous Fiesta Bowl
events in addition to receiving a
$500 scholarship, a watch and a
number of formal outfits.
INTERCOM
Fourteen middle management
executives graduated from their
eight-month Intercom program on
October 15. The exercises were held
at the Camelback Inn and Dr. Dale
Beck Furnish, professor of law,
Armstrong College of Law, Arizona
State University, and assistant
director of the International Legal
Center, Santigo, Chile, was the
featured speaker.
w. B. Chair in
Agribusiness
Established
The Prince Charitable Trusts,
Chicago, Illinois, has awarded the
school a grant of $200,000 to
establish a professorial chair of
Agribusiness in the World Business
Department.
In advising the school of the
award, the Prince Trusts officers
noted that establishing a chair in
Agribusiness to ground AGSIM
graduate students "in the
agricultural environment on a
global scale" is very worthwhile.
This is the second endowed chair
received by AGSIM. A chair in
international insurance was
established recently through a grant
from the C.V. Starr Foundation in
New York.
Believe it or not, the PUB is
undergOing a complete renovation
this winter!!!! Part of the project
entails new wall hangings. The
theme of the new PUB will be
historical-old planes, early
T-birds, etc. If you have any old
pictures or documents relating to
Thunderbird, why don't you share
them on the walls of the PUB? All
pictures accepted will be
acknowledged with a brass plaque
naming the subject and donor. The
PUB, of course, will pay all
enlargement costs. Please help out
and immortalize yourself at the
same time. All submissions can be
sent to the Alumni Office and
returned if clearly marked.
11
On the Move Three T-Birds celebrate
their "moves." Together in Phoenix for
Easter, from the left, Rosalie Johnson (,79),
Anne Bettis ('80) and Jane Dodson ('79).
Rosalie moved from New York to Dallas,
Anne left St. Louis for Phoenix, and Jane
moved from Phoenix to Australia.
Minneapolis-St. Paul A fair-sized group of alums in the Twin-Cities area got
together ill early fall to plan a future T-Bird gathering. ShOWIl, left to right, first row:
Bruce Smith, Steve Brandywine, Cindy Werner, Gail Beske, Bill Jenkins; second row,
Barbara Hams, Kathy Kurttila Shimada, johl1 Hay; third row, Sharon Hoffman, Katie
Lindblad, Blair Bertram, Peter Newmall; back row, Christy Bralldt, and Mark Lindblad.
12
Singapore The class of '81 had a
mini-reunion at the Raffles Hotel. SIWWIl,
from the left, Larry Johnson, with World
Vision; Iggy Kfzomasurya, with Procter and
Gaml1le; Joe O'Oowd, with Salsbury Labs;
and Jim Reilllloldt, Singapore Airlines.
In response to many requests, the
monthly meeting for T-Birds has been
changed to the first Friday of every
month. In addition, we have changed
the venue to: THE SLOAN COURT
HOTEL, 17 BALMORAL ROAD,
SINGAPORE 1025, TEL: 235-3311.
Time is still 5:30 p.m.
Tokyo Thunderbird Alumni
Association President Hiromi Yoshida
writes that the organization has
scheduled four official meetings for the
year and tha t they are preparing an
alumni directory of Thunderbirds in
Japan to be distributed to active
members of the association.
Officers for 1982 are: Hiromi Yoshida
('78), president; Charles Emanuel ('72),
vice president; Masao Komiya (,78),
vice president; and Buzz Trudeau ('78),
vice president.
Seoul, Korea The
Thunderbird-Korea Alumni Association
threw a lively cocktail/dinner party at
the home of Bill Valenti ('74) in Seoul
in May. The association, reorganized in
September 1981, has grown to over 50
members, including foreign residents
in Korea. The success of the May affair
points to more events ahead.
Well deserved kudos go to Jae Suk
Lee ('73), Jung-Kil Kim ('75), both
vice-chairmen of the association, and
Jung Bae Kim ('75) for orchestrating the
party. J.B. Kim is secretary general of
the association. Dr. Ju-SuP Han ('75),
professor at Chungang University is
chairman, and Bill Valenti, executive
vice president of Saehan Merchant
Banking Corp., was appointed
vice-chairman, representing the foreign
contingency in the association. The
goal of the association is to promote
friendly ties among Korean and foreign
T-Birds in Seoul, and to enhance the
image of AGSIM in Asia.
Dallas-Fort Worth The July
"international potluck and pool party"
at Mark and Marlene Gebhardt's drew
about 30 area T-Birds, and a good time
was had by all. There was also a polo
match and ballet doubleheader at the
Willow Bend Polo Club in Plano, Texas
in August, and it was also well
attended.
Washington, D. C. The
Washington, D.C. Chapter of
"Associated Thunderbirds
International," in conjunction with the
Washington Management and Business
Association hosted a "Washington
Update" luncheon on November 1 at
Blackie's House of Beef. The speaker,
Hugh Sidey, contributing editor, TIME
Magazine, presented a special view of
the current political situation and the
elections' relationship to business and
industry.
Brian Marshall, president of the D.C.
chapter, also reports that about 30
T-Birds attended a summer gathering
at the Kelso's and that T-Bird
attendance at the Stanford luncheon
was fair.
THUNDERBIRD WINTER 1982
Chicago Please note the change of
location for the monthly T-Bird
meetings in Chicago. The group meets
the first Tuesday of the month in the
"Pub Room" of King Arthur's Pub, 126
South Wells Street, on the corner of
Wells and Adams at 5:30 p.m. There is
24 hour parking across the street
(under the "L").
A turnout of more than 75 people
made the second annual Crystal Lake
Picnic for Chicago-area T-Birds in
August a great success. They came
from Indiana and Wisconsin as well as
from the Chicago area. Graduating
classes from' 48 to '82 were
represented. Bob Bean (,48), who has
been a valuable and loyal T-Bird to the
Chicago group, will be retiring with his
wife, Alice, to Green Valley, Arizona.
Panama Bill Moore ('79), Michael
Pierce ('68) and Bill Riley ('75)
organized an October Thunderbird
Reunion at the oceanside home of
Phyllis and Thad Chamberlain ('55) in
Panama City. Alums were encouraged
to bring a typical Latin American gift to
be donated to the international auction,
all of which gave the gathering a little
different twist. More than 20 T-Birds
attended.
Mexico City President Alyce Tidball
reports that the Thunderbird Alumni
Association of Mexico held their annual
Chili Cook-off in late spring at the
home of Ken and Hari Foster (both
'74). More than 50 adult T-Birds
attended accompanied by
approximately 15 Baby Birds.
The winners of the Cook-off, selected
from 15 entrants, were:
1st Place - Sheila Keeler (Mrs. Phil '56)
2nd Place - Nancy Karklins (Mrs.
George '73)
3rd Place - Paul Reiss ('60)
The Mexico association holds
breakfast meetings the FIRST
THURSDAY of each month at 8:00 a.m.
at the UNIVERSITY CLUB. Alums
traveling in Mexico, please take note!
Thunderbird Club of New
England Area T-Birds met at
Michael's Waterfront on November 16
to meet and talk with Tom Kidd,
alumni director from the school. Tom
discussed plans for the "worldwide
alumni association" and had a chance
to meet and talk with members of one
of the school's most active alumni
groups.
New York Alumni director Tom
Kidd spread the word about the
"worldwide alumni association" at the
November 19 gathering of New York
T-Birds at the Raw Cream Factory on
Hubert St.
THUNDERBIRD WINTER 1982
Northern California Don' t forget Saudi Arabia The Kingdom-wide
the Thunderbird Roost the first Tuesday
of every month at 5:00 p.m. at
Barnaby'S Embarcadero No.2 in San
Francisco. Take note all you traveling
and visiting T-Birds!
get-together was held in early October
at the home of Heidi and Gene Castle
in Riyadh. T-Birds from Jeddah and Al
Khobar also attended. They included:
The fall picnic for the Northern
California Alumni Association was held
on October 31 at Angel Island. No
report at press time, but we assume a
good turnout!
Cliff Foster, Kate Bloor Baroni, Phil
Blaisdell, John Baroni, Amin Hassan,
Roger Voegele, Bob Abbenzeller, Eric
Schroder, Dean Storm, William Van B.
Robertson, R. Jon Kailey, Greg
Harrison and Ted Giza.
Elections for officers will be held at
the annual Christmas party and we will
report the results in the next edition of
Thunderbird Magazil1e.
,DONDE ESTAN?
ClASS OF 1956
We need your help! If
you know the where­abouts
of these alumni,
please gather the infor­mation
and send it to us
at: The Alumni Office,
American Graduate
School of International
Management, Glendale,
Arizona 85306.
By providing our
office with this infor­mation,
you assist us in
keeping track of the
successes of our
graduates. A list of
unknown alumni will
appear consecutively by
graduation year in
upcoming issues of
"Thunderbird." We're
eager to receive news
about you, your family
or your T-Bird friends
for our Update section,
so please include that
information also.
Muchas Gracias!
Allenbach, Richard J.
Anderson, Elmer R.
Bailey, Robert D.
Blair, Royce C.
Brann, Norman J.
Briggs, Harry T.
Campo, F.J.
Carroll, J.J.
Carson, Warren J.
Cornell, C. M.
Coyle, Robert J.
Crowe, George L.
Drose, John J.
Dunham, Dale G.
Edwards, Nancy
Fambrini, Robert L.
Fox, Robert D.
Gallagher, Jerome J.
Gatterer, Charles F.
Harden, John
Hogan, John J.
Ireland, T.M.
Irwin, Carolyn E.
Jackson, David L.
Karnes, Robert E.
Kimball, W. G.
Kjelstrup, Robert C.
Kohlhoff, Henry W.
Kostich, Norman E.
Larsen, James P.
Leist, Lewis G.
Longwill, Ben L.
Mangum, Hugh J.
Marable, Jess B.
McNamara, Thomas J.
Meehan, Carl B.
Morris, Robert L.
Oakes, George B.
Offner, Francis X.
Pabst, RF.
Proctor, Custis N.
Quinn, Milton
Rockwell, Charles S.
Rosa, Kenneth
Ruby, Edward C.
Salonites, Stephen M.
Schreiber, Stanley J.
Scott, Gene W.
Small,Odis
Stanley, Jack M.
Stewart, Paul
Stokes, Gerald H.
Varty, Robert J.
Ventosa, John J.
Vogt, Milton M.
Wagner, Willard D.
Young, John
Zimmer, Thomas J.
13
ALUMNI
UPDATE
Class of '47 and' 48
Herbert H. Adams ('47) is an international
operations manager with the Graber
Company in Madison, Wi. Raymond R.
Chartraw ('47) is a marketing manager with
the Ohio Rubber Company of Willoughby,
Oh. Ben Cid Novoa, Jr. ('47) has taken a
position as business manager for the TEAM
Electronic Stores in Anchorage, Ak. Robert
B. Moyer ('48) has been transferred from
Goodyear International to the Goodyear
Tire and Rubber Company as manager of
dealer relations in Ohio. Allen P. Terho
('48) is director of Eastman Kodak's
Administration and Support-Marketing
Education Center in International
Photographic Operations in New York.
14
Class of '49 and '50
Lloyd Clark, ('49), founder of the Council
on Abandoned Military Posts is instructing
a course on this topic at the Rio Salado
Community College in Sun City, Az.
George S. Malcom ('50) is a broker-associate
with Florida Trend Properties, Inc. in Ft.
Lauderdale, Fl. Duane Mowry ('50) is a
finance staff assistant with the Hughes
Aircraft Company in Los Angeles. Roy L.
(Tom) Osborn ('50) is president of Osborn
Products, Inc. of Phoenix, specializing in
industrial products. Peter Scott ('50) has
been elected chief executive officer of
consumer goods and building materials
with the Di Giorgio Corporation of San
Francisco.
Class of '51 and '52
Lyle E. Bricker ('51) has been transferred
from Goodyear International to Goodyear
Tire and Rubber Company as manager of
off-shore insurance in Akron, Oh. Sterling
W. Kelley, Jr. ('51) has been named
president of Arneson Products, Inc. of
California. John P. Snyder ('51) is a
semi-retired investments manager in
Laguna Niguel, Ca. Brayton Lincoln ('52)
has established his own advertising/
promotion company operating on a contract
basis in South Dartmouth, Ma. Samuel
Schulman ('52) is the owner of the S & J
Company in Irvine, Ca.
Class of '53
Eugene F. Benz is a programmer analyst
with the Auto Club of Southern California.
Robert M. Cooney is business manager and
vice president of the consumer banking
division for Citibank, N.A. in Panama.
Thomas B. Hitchcock has been named vice
president with Citibank of New York in
their insurance industries department,
where he has global coordination
responsibilities as well as domestic clients.
Tom joined with Citibank upon graduation
and has been with them for 29 years. He
and his wife, Mary (Wrinch)-also '53) reside
in Stamford, Ct. Alan L. Ockene is in
Belgium where he is vice president with the
Goodyear International Corporation in their
European division. Philip W. Sweany has
taken a position as marketing technical
support director of International
Photographic Operations with
Eastman-Kodak in New York. Henry L.
Woodward has left Tanner Precast and is
now working for Sergins, Hoskins, and
Beckwith in Phoenix.
Class of '54
In July, the alumni office received a
delightful letter from Mark A. Antinucci
and his wife, Lois, in the form of an early
Christmas card, with apologies for the
holidays gone by without word of their
whereabouts. Mark and Lois are living in
Rome, where he has his own business and
she is heading the English department of a
private school. Mark writes that his
children, all nine of them, are doing well in
their various activities, and that he and Lois
are enjoying the cultural masterpieces and
the warmth that Rome has to offer. Bill
Banning is a sales and export manager of
Hamilton-Ditmore, Inc., a fireplace
equipment company of Costa Mesa, Ca. He
writes that he still has fond memories of
"such things as cows in swimming pools
and Mr. Finney's unending need for
copious quantities of Cannon towels."
George E. Hale has left Property Investors
Co. , where he was a partner, to become a
self-employed realtor in Pasadena, Ca.
Joseph A. Kraynick has been named .
national sales manager for RBP ChemIcal
Corporation, manufacturer of lithographic
plates and chemicals in Milwaukee, Wi.
Charles A. Whitcomb has been elected
president of Intercontinental Bank in Miami.
He was formerly with Chase Manhattan
Bank in Puerto Rico.
Class of '55
Tom Nay is with ShearsoniAmerican
Express in Orlando, Fla. , where he is.
working in investments. R.K. Pooler IS the
president and John A. Santana ('71) is the
vice president of International Marine Fuels
of San Francisco, Inc., an affiliate of the San
Francisco Petroleum Co. The firm was
started by the two T-Birds for the purpose
of supplying domestic and international
vessel bankers. George Rainoff is vice
president and administrator of international
operations with Johnson & Higgins of New
York and is residing in Mahwah, NJ. John
M. Viborel is a corporate direc.tor with S.c.
Johnson and Son of France.
Class of '56
Robert Churidis has opened P.]. Chemicals
Inc. in Santa Fe Springs, Ca. After retiring
from the Goodyear Corporation in Akron,
Paul Delaney has returned to his
hometown of Clyde, Tx. where he is now a
freelance writer. Peter J. Roman, who
received his BFT in '56 and returned to
AGSIM for his MIM in ' 69, is now a
production manager with Levi Strauss
Eximco at the World Trade Center in
Geneva. Charles M. Stockholm has been
named senior executive vice president for a
new banking group of Crocker National
Bank, a San Francisco based bank which is
owned in part by Midland Bank Ltd. of
London. His division is devoted to
wholesale domestic corporate and
international business.
Class of '57 and '58
Alexander Boggio ('57) is an associate of
Patterson & Floyd, Inc., an agricultural
commodities broker supplying ingredients
to feed, soap and chemical industries.
William Bortoff ('57) and his wife, Laura,
are living in Mexico where he is with Lance,
S.A. Giles A. Doyle ('57) is with GTE
International in Computerized Restaurant
Systems. He is residing in Anaheim, Ca.
Robert A. Egly ('57) is the president of SRW
Computer Component Co. of California.
Francisco Gaitan ('57) is a general manager
with the Revlon Overseas Corporation C.A.
in Caracas. Cruz R. Mora ('57) is a deputy
probation officer for Los Angeles County,
soon to be returning to engineering in
Australia with TRW. Timothy S. Reed ('57)
THUNDERBIRD WINTER 1982
Darryl J. Petersen '62 John Zeibarth '62
THUNDERBIRD WINTER 1982
has been promoted to relationship banker
for Citibank in San Juan, Puerto Rico,
where he also serves on the board of
governors and as treasurer of the United
Fund. James M. Stothers ('57) has left
Koppel Inc. to join AGREX Corp. of
California as treasurer for the company.
William Sigal('58) is in Paris working for
the Globesan Newsletter. Cleo E. Wall ('58) is
the president of HUB International in
Houston.
Class of '59
James P. Bonner, Jr. is still working as
export director with Roberts Consolidated
Industries. His job requires frequent travel
to the Far East and Latin America. Richard
E. Crumb is corporate vice president with
Bank of America in New York. Dr. Richard
L. Cummings has accepted the position of
academic dean and professor of
international and intercultural studies at
International University - Europe in
London. Bart L. Hartzell and his wife,
Lynn, have moved to Sydney, Australia,
where he has been transferred with Boeing,
after spending 31/2 years in Europe with this
company. William H. Holtsnider has been
named vice president of corporate internal
development with the Gillette Company in
Boston, Mass. William G. Hoover is sales
manager and marketing association vice
president with Goodyear International in
Akron, Oh. Jack H. Matkin has been
named president of Rainbow Knit and
Sportswear of North Carolina. Richard O.
Snyder has retired from the Bureau of
Public Assistance and is residing in
Claremont, Ca. Paul Wayne Wright is the
executive vice president and chief operating
officer of the Abu Dhabi International Bank
(ADIB), a Washington D.C. subsidiary of
the National Bank of Abu Dhabi of the
Middle East.
Class of '60
Cesar J. Balmaseda has been named vice
president of export sales for the world tire
group with the Firestone Tire and Rubber
Company in Akron, Oh. He has been with
Firestone 21 years and has served in various
sales jobs in both domestic and
international operations, including assistant
to the vice president for Latin American
operations and manager of marketing for
Europe. Roberto Castillo has left Smithkline
Corp. to join Coulter Electronics, in Florida,
as an export director. Jack E. Donnelly's
appointment as president of GTE Business
Communications Systems Inc. was written
up in the May 13, 1982 issue of the Wall
Street Journal. Jack, who was formerly the
managing director and chief executive
officer of Plessey Office Systems Ltd., now
heads this newly designed unit of the
Stamford, Ct. based GTE Communications
Products Group which will serve the
emerging telecommunications markets
created by government deregulation.
Valerie (Tognazzinil Kieser is a corporate
secretary for Diamond T Land and Cattle
Company of Oakland, Ca., a family
company in which she and her husband
John ('60) are becoming more active, in
addition to his work at Kaiser Aluminum
and Chemical Corp. Jack A. Kruppenbach
has moved to Lancaster, Tx. where he is
employed with Energy Analysts Inc. Chad
Leidy has decided, after years abroad, to
come home to Lafayette, Ca where he is a
manager with Travel Center, a California
based agency. Vernon K. Meyer and his
wife Lois are the owners of Newspaper
Promotional Services of Redding, Ca., a
business which requires them to travel
throughout the Northwest USA, publishing
special pages and sections for a variety of
newspapers and shoppers.
Class of '61
Robert E. Barnes has been named executive
vice president for Bank of the West in San
Francisco. Paul D. Black is the president of
Industrial West in Newport Beach, Ca.
Burton Allan Lazar is the president of
Resource Industries Corp. in Chicago. Dr.
Joseph N. Weatherby Jr., a professor of
political science at the California Polytechnic
State University, was elected by the
statewide academic senate of the California
State University to serve as Secretary of the
Executive Committee of the Senate. This is
one among many honors Weatherby has
been awarded by the university. He has
also been nominated for the systemwide
CSM outstanding professor award and has
received several fellowships in the past.
Class of '62
Jack S. Beldon is vice president and general
manager with the Goodyear International
Corporation in Peru. Dr. Carlos E. Cortes is
chairman, Department of History,
University of California, Riverside and was
named a member of the California Council
for the Humanities. He also served as guest
host on the PBS program, "Why in the
World?" and serves on the National
Advisory Committee for that nationally
televised series. Richard E. Hayes is a
director with the Sirrine Corp. of Campinas,
Brazil. Curtiss KIus is a field sales manager
with the Whirlpool Corp. in Stevensville,
Mi. Kevin F. McMahon is vice president of
First Virginia Bank Roanoke West in Salem,
Va., responsible for the regional trust
department in southwest Virginia. George
A. Mendenhall is the president of
Paramount Export Co., a food exporting
firm of Oakland. He is living in Sunriver,
Or. with his wife, Katherine. Charles E.
Niemann has been promoted to manager of
Vintage World Travel in Modesto, Ca.
Walter F. Patterson's new position as sales
manager for the Faultless Company was
brought to the attention of the alumni
department when his name and photo
appeared in an article about the Cologne
Hardware Fair in the July/August issue of
Export magazine. Darryl J. Petersen is the
president of Strategic Career Services, a
career consulting firm based in Lafayette,
Ca. Wallis R. Sanborn is a regional
marketing manager with Kawasaki Loaders,
Inc. in Austin, Tx. B. Paul Smith is general
manager with Banco Andino in El Dorado,
Panama. John Ziebarth has been promoted
to group vice president with American
White Cross Laboratories, Inc. of New
Rochelle, NY.
15
Dan L. Henderson '63 Brian Reilly '66
Peter Feddersen '67 Dean Hendricks '67
Larry K. Mellinger '68 Ralph B. Hurlbutt '69
Sharon K. Taylor '69 John P. Kingman 70
Dwan L. Shipley 70
16
Class of '63
James B. Catlett, Jr. is a partner in the
Sunburst Energy Company, oil producers,
in San Antonio. Robert J. Gehl is president
of Tempotech Industries, Inc. in Hart, Mi.
Dan Henderson, senior product manager of
the recently-formed Sears Roebuck Trading
Co., Chicago, visited campus in September
for the first time since he graduated. He
related that after a short time with B.F.
Goodrich, he joined Sears and looked
forward to an overseas assignment after
"domestic training," which has lasted for 19
years. One thing about the physical
appearance of AGSIM caught Dan's
eye--"haJf the swimming pool is gone."
Don Hellbusch has formed his own
corporation in California after holding some
very good export positions with Magnavox
and most recently, with a subsidiary of
Bristol-Myers. Bradford E. Romine is an
owner of Dawson, Judson, Romine and
Associates, Inc., a manufacturer's
representative company in Ohio. Robert E.
Williamson has taken a new position as
product/market specialist in the export
branch of John Deere Intercontinental Ltd.
Class of '64
Peter B. Blackford is managing director
with the Goodyear International Corp. in
Australia. Allen F. Drachman is a salesman
with SATTLERS, a kitchen remodel
designer in Concord, Ca. Murray H.
Hutchinson is chairman and CEO of the IT
Corporation in California. John R. Jagoe has
been named vice president of sales and
marketing with Aeration Industries of
Chaska, Mn. His company, specializing in
water pollution equipment, is rapidly
expanding in international sales. James B.
Kelly is a manager of international sales for
the Davy McKee Corp. of Cleveland, Oh.
Richard Kithil, Jr. is the owner of the
Service Company, a small franchise
organization in home repairs. He and his
wife, Linda, live in Boulder, Co.
Class of '65
Robertson Gaylor is living in Paris where
he is with ERCA. Donald B. Gillespie is
assistant to the promotion director for
Goodyear International in Mexico. Jamie T.
Irvine is an assistant vice president of
Corroon & Black, Co. of New York, an
insurance brokerage firm. Ken Palmer,
written up in Living magazine'S fall 1980
issue as their "Executive on the Move," is
deputy manager for Crocker Bank's Los
Angeles International Office. Throughout
his international banking career, Ken has
had various assignments in Costa Rica,
Singapore, Nigeria and New York, as well
as his current position in Los Angeles.
George F. Thomas III is a project
accounting coordinator with Saudi Arabian
Parsons Ltd. in Jeddah.
Class of '66
Leavitt B. Ahrens, Jr. has transferred from
Rio de Janeiro to Hong Kong with Blue Bell,
Inc. as director, Asia for Wrangler Jeans.
Edward M. Baltrusaitis is a sales manager
with Vanderbilt Export Corporation of S.
Norwalk, Ct. He writes, "Sold my house
and moved on board my 36 foot ketch.
Winters are a bit cold in Connecticut but it's
an interesting way to live." Vincent D.
Cater has been named senior vice president
of Citizens & Southern National Bank in
Atlanta, Ga. Edward Cline is with the
Oceanic Contracting Company in Dubai,
UAE. Albro (Dick) Daniel is the vice
president of sales and marketing with the
Ford Meter Box Company, manufacturer of
valves and fittings. He and his wife, Linda,
and two sons, Albro Jr. (15) and Craig (13),
are residing in Wabash, In. where Linda
teaches learning disabled elementary
children. T.S. Fletcher is assistant vice
president with L.F. Rothchild, Unterberg,
and Tocobin in San Francisco. James H.
Koessler owns an investment firm in
Billings, Mt. Alford B. Johnson has been
promoted to district sales manager for
ARMCO, International of illinois. Charles
Meech is managing director of the London
Northwestern Bank. Reese Moyers is with
World BankIDominican Republic in
Washington, D.C. Brian Reilly has been
named vice president of International
Development at Jostens, Inc. , a
Minneapolis-based manufacturer of
custom-designed recognition products.
Brian was the international marketing
manager at ARMCO, Inc. prior to accepting
his new position. H. Clifford Rudisill II
and partner bought the Village Inn, a 27
room hotel, built in 1771, in January. The
Inn, located in Lenox, Ma. , also has a
restaurant and two bars--he welcomes
T-Birds with a 20% discount! Joseph E.
Thompson has been transferred to London
as the vice president and senior European
representative for Southeast Bank, NA. His
position entails extensive traveling in
Western Europe to facilitate customer and
investor relationships for the bank
throughout Florida.
Class of '67
Timothy J. Bloom graduated from law
school in 1981 and is currently awaiting the
results of his bar exam in Sacramento, Ca.
Richard Brotzman is vice president with
Hallmark Cards in Mexico. John L.
Campbell owns the Pacific Outpost Sales
and Export Company of Kaihia, Hi. , where
he resides with his wife, Carol. Richard
Dueringer is the assistant vice
presidentibranch office manager at E.F.
Hutton of Michigan. Robert E. Duncan is
vice president and treasurer of the Grove
Manufacturing Company in Shady Grove,
Pa. William C. Dyer is manager of the
Latin American division of Connell Bros.
Co. in San Francisco. Peter Feddersen has
moved from Thailand to Australia with the
Continental Overseas Corporation as
general manager of AustralialNew Zealand
operations. He is living in Sydney with his
wife, Hilary Garret, and two sons, 8 and 10
years old. William R. Gilson is a manager
of real estate development with the
THUNDERBIRD WINTER 1982
Wickland Oil Co. in California. Dean
Henricks has been named vice president
and central region manager for
ContiCommodity Services, a subsidiary of
~ontin:nt~l Grain Company. The company
1~ a m~Jor m~ernational futures brokerage
firm w1th offices in the US, Canada,
England, West Germany, The Netherlands
and South America. Richard J. Matchette
~as s.tart~d his own import-export business
~ .MIa~, FL Ed~ard H. Reading, Jr. is
livmg Wlth his wife, Marie, in Akron where
he is vice president and general manager of
1M-EX International Inc. Jennings Rowland
is .a marketing manager of hose products
Wlth Goodyear International USA of Akron
Ohio. He is living in Clinton with his wife'
Teresa Marie. Kent Swisher is the princip;l
of All American Racers and Gimey
International in Corona Del Mar, Ca.
Class of '68
Richard Austin is a partner in a San
Franciso and Nevada consulting firm,
Research Applications Inc., as well as
running a cattle ranch and a children's
school in Baker, Nv. William C. Brown is a
vice ~resident and general manager of the
Amencan Express International Banking
Corporation in Seoul, South Korea. William
Deleon is a partner in International
Commodities, Inc., a new company
concern~d ~ith the export-trading of
electromcs, llon, steel, and aluminum in
Chadds Ford, Pa. John W. Dickinson, Jr. is
a semor sales representative for Firestone
Tires in Lima, Peru, where he is residing
with .his wife, ~hri~tine Rae. Larry K.
Melhnger, semor Vlce president of Union
Bank, Los Angeles, has been promoted to
manager of the international banking
department. Union Bank is a wholly owned
subsidiary of the Standard Chartered Bank
G.roup, he~dquartered in London. Rudolph
Pma 1S an lffiport supervisor with William
F. Joffroy Inc., a custom house brokerage
firm in Nogales, Az. Robert W. Repsher
has been promoted from his current
assignment in Chicago to national
merchandise manager with Sears Roebuck
de Venezuela. He is living with his wife
and daughter in Caracas. I.R. Sanchez is
with the Central National Bank of Cleveland
in Ne~ York. J.im S~runk is a sales manager
for Latin Amenca w1th the Electronics
Corporation of America in Cambridge, Ma.
Voldemars Stukuls has resigned from
European P.aper and Fibre Corp. to establish ys Internahonal, Inc., an export corporation
m th.e Boston suburbs. Timothy F.
Tornngton has left the Wilbur-Ellis Co. to
join the Atlapac Trading Co. in Long Beach,
Ca. Montr~ville B. Walker is a marketing
manager w1th Eastman Kodak in Singapore.
Class of '69
James P. Blaisdell is assistant vice president
of Wells Fargo, agribusiness department in
Modesto, Ca. James Brokken has been
promoted to senior vice president with
Manufacturers Hanover Trust of New York.
Marshall E. Bryan is an assistant to the
sales director for Goodyear International
Corporation in West Germany. Robert A.
Dellork is now teaching at Rancho-Starbuck
Jr. High School and is still living in Santa
THUNDERBIRD WINTER 1982
~a, Ca. Christian Demaret is treaty
remsurance manager with INA Reinsurance
~o.mpan'y of .Pari~. E. Stephen Duggan is
livmg w1th h1S wife, Anni, and two
daughters, ages 9 and 11, in Corsica, where
he is the director of his own viticulture
b~siness. Eric B. Fable is the president of
Au Express World Inc., an international
trade brokerage firm, in Scottsdale, Az.
John Girton is with AIU in Paris. Ralph B.
Hurlbutt was transferred from the New
York branch of Mellon Bank to the London
branch where he was made manager and
senior vice president in charge of Europe
and the Middle East. G. Johns has been
promoted to vice president for American
Express International of Bangladesh. James
A. Klein is vice president of Polymax
International in Houston. John R. Knorr is
a school psych?logist for the Traverse Bay
Area Intermed1ate School District in
Traverse City, Mi. Wesley A. Kruse is
self~eI?ployed with Kruse Realty in
~ttier, ~a. Graham Lowe is program
duector w1th the Franklin Mint Corporation
in Newtown Square, Pa. C. Allen McDevitt
is a broker/trader for Allwood Industries.
Inc. in Portland, Or. Stephen L. Novkov
has been appointed general manager of
AFIA's Japan operations. Before his
promotion he was general manager for the
Hong Kong operation and his assignments
have also included Guam, Tokyo and
Bangkok. Robert R. Placht is a field office
manager with Raymond International
Builders of Houston, Tx. John C. Polhemus
is managing director of Goodyear
Inte~atio~al in the Philippines. Didier
Polhsard 1S a sales manager with BP
International in DualaiCameroon, Africa.
Joe Restno is a self-employed entertainer
whose .rece~t appearances include spots on
two p=e time television dramas, Hill Street
Blues and The FBI. Stephen Ringler has
bee~ pro~oted to division vice president of
tradmg Wlth International Multifood, Inc. in
Minneapolis, Mn. He visited campus in
<?ctober to. recruit for his company. First
time back m 13 years. Dana J. Schneider,
Jr: has tak~n a po~ition as a vice president
w1th the Fust National Bank of Chicago.
Armund J. Schoen is assistant vice
presi~ent an~ deruty general manager with
the Fust Nationa Bank of Chicago in
Madrid. Georgie M. Stillman is the
proP.riet.or of G~S Fine Art Appraisal
Serv1ce 10 San D1ego. She is the director
and past president of the San Diego
Chapt:r of the American Society of
Appra1sers, a member of the executive
board of the International Society of
Appraisers, and a lecturer at Indiana
U,niversity. Sharon Kay Taylor is the
duector of marketing and information for
the San Diego Metropolitan Transit
~evelopment Board. George Tomaszewicz
1S a self-employed tax and investment
planning specialist with the Metro Financial
Group of Dallas. James L. Wilson is a
general manager at Ketchum Medical
Company in California. Terence K. Young
is a human resource development
consultant for Canada and South America
with Caterpillar Americus Co.
Class of '70
Bill R. Blevins is the section head in
cataloging and support of the Marnot
Library at the University of Utah. Houston
W. Briggs II is a market representative for
~CSD Corp'.in Kissimmee, F1. Stephen Bull
1S an ?peration ma~ager for Dayco
Amencan Corporation and is residing in
Oakland, Ca. Carolyn (Polson) Daniel and
John Walter Daniel ('71) have returned to
Dallas after spending 8% years in Asia
where John was the regional head of the
First National Bank of Dallas. Max Dickman
is a sales manager with the NCH
C.orpora~on of Texas. Libby G. Ginnetti is
Vlce pres1dent of American Assurance Co
Ltd., a life insurance company of Bangkok
Thailand. James H. Henderson was '
appointed a principal of Anspach
Grossman Portugal Inc. of New York, a
c.ommunications ~nd designs consulting
firm concerned Wlth corporate identity
programs. The firm's growing clientefe list
mcludes ~, Citibank and Esmark, among
others. Wd~lam G. Johnston is a pricing
manager w1th the Southern Pacific
Transportation Co. in San Francisco. David
T. Kaveny is the director (VP) of the
international .division of American Express
Bank GmbH m West Germany, where he is
responsible for correspondent/wholesale
banking. E.L. Kerin is the president of
Serigraphics Displays Inc., a sales
promotio~s and. pop display company. He
and his wife, Michelle, are residing in Costa
Mesa, Ca. Peter Kingman has been
promoted to vice president with Northern
Trust of Chicago. larry E. McCarver has
left Charles Machine Works, Inc. to join the
Barton Valve Co. of Oklahoma as director of
marketing. He is responsible for the
company's worldwide marketing activities.
Glenn R. McQuiston has formed a law
partnership under the name of Dahl &
McQuiston in Seattle, Wa. The firm is
primarily engaged in maritime, natural
resources and commercial law. David B.
~orehouse is assistant vice president with
Fust .Los Angeles Bank in credit
a~stration for the Los Angeles Airport
reglOn. Walter H. Nagel is the owner of
Nagel Trade Management Co., the exclusive
licensee for German food processing
equipme~t m.anufacturing. Charles F. Palm,
Jr. and h1S wife, Teresa, are in Tlalnepantla,
Mexico, where he is district manager of
Cameron Iron Works de Mexico, S.A. Frank
O. Rivera is living in Phoenix where he is
the general manager, Latin American
division of Slush Puppie. William L.
Roberts is a marketing manager with
Eas~an Kodak in Malaysia. Jeffrey
RUZIcka has been named senior vice
president at Northern Trust of Chicago.
Charles E. Scriven has been appointed
pr~duct manager for Koehring Lorain, a
umt of A...>v1CA International Corporation of
Ch.at~anooga, Tn. A.ustin M. Seay is in a
tra10mg program w1th Tidewater Marine
Service in Los Angeles. Kenneth E.
Shetterley owns the Durham-Western
Corporation, an export brokerage firm in
Durham, Or. Dwan L. Shipley is interning
as an associate pastor with the United
Methodist Church in Lander, Wy. lawrence
W. Stater is living in Santa Rosa, Ca. where
he is employed as a stock broker for Paine
Webber. Michael H. Summers is division
17
manager and partner of Colbaugh & Son, a
turquoise dealer in Kingman, Az. William
C. Walker has been promoted to vice
president with Northern Trust of Chicago.
John M. Werner has been promoted to
general manager with the H.J. Heinz Co. in
Miami, FI.
Class of '71
Robert W. Adams is a sales engineer for E.
1. DuPont de Nemours and is living in
Mesa, Az. Robert F. Ainslie, Jr. has left
Sears Roebuck and Co. to start his own
firm, Ainslie and Associates in California.
Gerald L. Anderson is self-employed in
connection with a radiator shop in Southern
California . William H. Coughlin is residing
in Phoenix and working for the City of
Tempe. John D. Daughenbaugh has been
named vice president and general manager
of the First Interstate Bank of California's
Taipei operation. Jeffrey D. Davis has been
promoted to export manager with the
Paramount Export Co. of California .
Thomas E. Dent is teaching for the
Department of Education in Agana, Guam.
Kenneth J. Hernandez is in Houston where
he is working as a senior sales
Gene Mansfield 71 Ed C. Auble 7 2
Robert f. Sherr, Jr. 72 Kenn G. Morris 73
Wylie D. Barnett 7 5
18
representa tive for ST ALLA VAL, Inc., a
company specializing in industrial products
for oil and gas. Warren W. Herrbott is an
accounts receivable manager with
Honeywell Computers of Phoenix. George
W. Howard III is a regional manager,
JapaniKorea, with AFIA in Tokyo. Jeffrey
B. Johnson, a desk officer for the U.S.
Department of Commerce in India, was a
member of the U.S. delegation to Indo-U.S.
Economic-Commercial Sub-division in New
Delhi in February '82. David W. Josephson
has been named vice president of the Union
Bank of Los Angeles. He is in the
international banking division. William T.
Kelley, Jr. has left Cavitron Inc. to jOin TKB
International as vice president of marketing
in Newport Beach, Ca. Martin Lakacinski
has moved from Houston to Fresno, Ca. to
start his own manufacturing business, Gulf
Protein Company. Eugene Mansfield was
appointed CPhA legislative director on
April 20, 1981. He has also served as chief
administrative officer of the Joint Committee
on Rules of the California Legislature, as
well as deputy administrative officer of the
Assembly Rules Committee. Peter C.
Matthews has been named president and
dealer for Matthews Chevrolet Co. Prior to
June, 1982, when his father stepped down
as president, Peter was vice president and
general manager of the agency. Joseph T.
Miller is a management and organizational
development specialist with the Bahrain
Petroleum Company in Awali. John N.
Piznak is a director with American Express
mc, Travel Service in Frankfurt. Leith A.
Swanson is the managing director at
K-Comp Inc. , a micro-computer company of
Glendale, Ca. William L. Telling is a group
product director with Brown and
Williamson Tobacco of Louisville, Ky.
Class of '72
John A. Allred has been named vice
president in the international division of
Union Bank in Los Angeles. He and his
wife, Barbara, are living in San Pedro, Ca.
John left the position of second vice
president at Chase Manhattan Bank in
Bogota, Colombia to join with Union Bank.
John C. Anderson has been promoted to
director of international marketing and sales
with Binny and Smith in Pennsylvania. Kris
W. Anderson has moved into the
advertising business with MayfPartners, Inc.
of Seattle. He writes, "In December, 1972
our Inter-Ad team took first place for
Pampers DiaperslEngland. It's only taken 11
years to finally get into the agency side as a
partner." Ed Auble has left AIG after 10
years plus and is now group insurance
manager for Alden-Levine Associates in
Valley Forge, Pa. He says, " .. . after 10
moves from 1972 to 80, we're ready to stop
rambling. We'd love to get involved with
T-Birds in the Philadelphia area." Spouse
Bonnie will finish physician's assistant
program at Hahnemann Medical Center in
Philadelphia in June '83. Dario Benedetti is
a technical services manager with Getz Co.
and is residing in Burlingame, Ca. D. Bruce
Blankenship, vice president and secretary
of Blankenship Development Inc., real
estate and investments, has been appointed
to the board of directors for Bank of the
West in Lubbock, Tx. Christopher L.
Chesser has resigned as vice president in
charge of production at Filmways, to enter
into independent production. He is
presently producing a theatrical feature in
London and Mexico. Vincente F. Coronado
is assistant superintendent with Cargill, Inc.
of Tampa, Fl. James D. Daniels has been
elected vice president of Rubenstein,
Wolfson and Co., a New York based public
relations firm, handling such clients as
Ernst and Whinney; Johnson and Higgins
and L.F. Rothschild. Selden M. Daniels has
left Northern Air Freight to join Spectrum
Logistics Corp. as director of operations.
John F. Duffer is a vice president and
general sales manager for Pepsi-Cola
Bottling Co. in Raleigh, NC. Gregory W.
Duffin has been appointed general manager
for AFIA's Hong Kong operation . He has
had previous assignments in the Virgin
Islands, Brazil, the Bahamas and Singapore.
Michael Gardiner has been transferred to
Singapore with Hertz International.
Mathewson (Mat) B. Green is vice
president with Russell Reynolds Associates,
Inc., executive recruiting consultants, in
London. Gary L. Hogenson has moved
with A.P. Green Refractories' Latin
American headquarters to Santo Domingo.
Richard W. King is an export manager with
Kent International in San Francisco. Edward
S. Lucas Jr. is in Greece where he is
production director with Goodyear
International. Stephen H. Mahood is a high
school teacher of accounting and economics
in Washington, D.C. Gerald P. O'Brien is
an area manager with Surgicot-Squibb of
Smithtown, NY. Dennis J. Orio is an
insurance underwriter with Chubb & Son of
Short Hills, NJ. Since October, 1981, he has
been Chubb International's home/foreign
manager, responsible for activities of the
international division in the US and
Canada. John D. Prudden is senior vice
president with Commonwealth Leasing
Corporation in Michigan. James F. Rehnnan
is working for Weyerhaeuser Co. of Seattle,
Wa. in new business development. James
Rice is vice president with the First
National Bank of Minneapolis. Jeffrey T.
Ruby is regional managerlLatin America
with FMC-Elgin Leach International Inc. in
lllinois. William D. Rye has opened his
own store, The Soccer Place, and is
involved in junior soccer leagues in
Franklin, Tn. Robert J. Sherr, Jr. is the
director of marketing for the Arizona State
Lottery and is currently serving as president
of the Phoenix Businessmen's Association.
Henry S. Slesinger is with Slesinger,
Yaranoff and Associates Advertising in
Phoenix. Gary E. Smith owns and operates
the G & M Company, a textile/garment
business in Buchana, Mi. Robert M. Walker
is an international credit officer with the
United Bank of Arizona and is residing in
Phoenix. Craig E. Wanamaker has been
named vice president of Centeer Bank of
Kansas City, Ne.
Class of '73
Paul Bergman is an international trade
specialist with the US Department of
Commerce in Denver, Co. Randall Bishop
and his wife, Lori Abell, ('74) are partners
in AROS, an investment management and
financial planning firm . They have done
THUNDERBIRD WINTER 1982
projects for a film targeted at multi-million
dollar investment in Indonesia, and have
also picked up their first multi-million dollar
investment analysis project involving
holdings in Paris, New York and Los
Angeles. Randall also took the California
bar exam in July, 1981. R.J. Davis is a vice
president with Multinational Energy. He is
living in Irving, Tx. Martin A. Feigenbaum
is with the Marvitec Export Corp. of Miami,
FI. Stephen W. Graeber has left
Metropolitan Life Insurance to join the CNA
Insurance Co. of California. Timothy J.
Holden has joined Union Bank's Century
City regional office as assistant vice
president in the priority banking
department. Willard B. Hunter has been
named senior marketing research analyst
with Dow Chemical USA, assuming
marketing responsibilities and new product
positioning diversification duties aimed at
both the STYRON polystyrene resins and
copolymers/styrenic specialties marketing
groups. Robert A. Luzar is the owner of
RE.W., a land development, construction
and investment company in Scottsdale, Az.
Ronald E. MacDonald is the
director-Asia/Pacific with the Greyhound
Leasing and Financial Corporation in
Tokyo. Thomas A. Monroe is international
sales manager for the Fluid Control Division
of the FMC Corp., an oil tool manufacturing
company of Houston, Tx. He lives with his
wife, Marguerite, in Woodlands, Tx. Kenn
G. Morris has joined Callan Data Systems
of Westlake Village, Ca. as director of
marketing communications. David S.
Morsky is a transportation analyst for
Eastman Kodak in New York. Ronald
Nicosia is an administrative contracting
officer with the US Department of Defense,
employed as a speCialist administering
commercial, government to government and
NATO contracts for the US Navy. Gerard
V. Perez is the president of Fine Art
Resources, Inc. of Chicago. Roxanne (Juni)
Skawin is a regional manager of product
financing with MacDonald Douglas Finance
Corp. of California. David Talbot has
started Promotional Planning Inc., a
meeting and convention company in
Longhorne, Pa. Jesse G. Wilson is vice
president of marketing-services for
Elmerhurst Management Service. Thomas
e. Woodruff has been made a vice
president of Bank of America in San
Francisco.
Class of '74
Robert Bauchman has been promoted to
vice president with Northern Trust of
Chicago. Roger Bildsten has been promoted
to assistant vice president with the First
National Bank of Chicago. Avinder S.
Bindra has been transferred to Singapore as
vice president of Asia Pacific Capital Corp.,
LTD, the merchant banking arm of Citicorp
in the Asia/Pacific region. Patrice Boyer has
moved to Sydney, Australia where he is a
managing director with Nordson Australia,
a firm specializing in paint spraying and
adhesive application equipment. Richard
W. Buck is a sales representative with the
Calgon Corp. in Garland, Tx. Bryan P. Fay
is a trust business development officer with
the Capital Bank and Trust Co. of
Louisiana. He is living in Baton Rouge with
THUNDERBIRD WINTER 1982
his wife, Kathy. Stanley Gavin is an
assistant driller with the Santa Fe Drilling
Company of California. He is currently
working in eastern Venezuela and
anticipates transferring to Qatar or Bahrain.
James J. Gilligan is an international sales
manager with the CarboLine Company,
industrial coatings/fireproofing specialists,
of St. Louis, Mo. Robert e. Grant is
national account manager with AT&T of
Laguna Hills, Ca. He writes, "It's not bad
working for the largest corporation in the
world." Paul E. Larson and his wife, Pat,
are living in Dohe, Qatar where he is the
manager of Circle Freight. He is anxious to
hear from any T-Birds in the Middle East.
John e. Melarkey is an auditor with the
First Interstate Bank of Nevada in Reno.
Won K. Pak is with E. J. Paxon & Co., Inc.
of New York. Robert G. Quinn is an
international banking officer with the Wells
Fargo Bank of San Francisco. David L.
Sandel is marketing operations manager
with Cooper Energies Services International
Inc. in Jakarta, Selatan, Indonesia. Greg
Wood is assistant sales manager with
Landstar Homes International in Florida.
Russell P. Wood is a brand manager with
Pepsi-Cola Bottling Co. of Alaska, Inc.
Class of '75
Mark W. Anderson is a regional marketing
manager with Hershey International Ltd., a
subsidiary of Hershey Foods Corp. in
Pennsylvania. Mark Anderton has left
Sygnetics to accept a position with Tandem
Computer~ in California. S. Robert August
has joined Stuart R. Scott and Associates,
Inc., a full service commercial and
residential real estate concern in Colorado
Springs, as vice president of marketing and
sales. Wylie D. Barnett has been promoted
to principal field manager with the Ford
Motor Company Caribbean Inc. in which he
acts as the liaison between the Ford Motor
Co. and a dealer body in Puerto Rico and
the Caribbean. Brian W. Black is director of
international marketing for Koehring
Excavators of Milwaukee, Wi. Harold Blair
is with the international trade division of
the State of Ohio. Jay P. Boyd has moved
from Athens, Greece to Oxford, England
where he is a district manager for the Grove
International Corporation. He is responsible
for sales in six Mediterranean countries.
Robert C. Burnett is the general manager
with Coflexip UK Ltd. of Scotland. He is
living in Kincardinshire with his wife, Patti.
e. James Conner was promoted to vice
president of Texasgulf Export Corporation
of London and is residing with his wife,
Tricia, in Hampstead, London. John P.
Corral has left Del Mar Avionics to join
IMED International Corporation in Ft.
Lauderdale as a Latin American regional
manager. He tells us, "IMED is using the
AGSIM Placement Center for possible
international candidates upon my request."
Salvatore D' Amato, Jr. was promoted to
district sales manager with Metropolitan
Life Insurance in Worcester, Ma. R. Scott
Dannison is on a five month executive leave
from the Xerox Corp. to help establish the
Los Angeles Trade Development
Corporation, a non-profit public corporation
set up by Mayor Bradley of Los Angeles to
aid small businesses in entering the
exporting field. Scott is serving as manager
of export development. James H. Davis is
an assistant vice president with the Irving
Trust Company uf New York. Alice (Miller)
Dupas is residing in Paris where she is with
APC Management Services. Sally (McKey)
Dry is a business analyst for NL
BaroidlLatin American operations in
Houston where she lives with her husband,
James. Stuart W. Forman has moved to
Merrimack, NH where he is employed as a
compensation manager for Wang
Laboratories. George M. Fronske is an
international coordinator with ITT Courier
and is living in Glendale, Az. Gordon Goad
is the co-owner, vice president and general
manager of Nimbus, Inc., an import-export
business in Las Vegas . Vrej Gregorian is a
manager with VGH Inc. of California and is
living in Glendale, Ca. James e. Harrington
is the senior vice president of RTP, Inc., a
trading corporation of Los Angeles. James
C. Hartenstein is in Chile where he is sales
director for Goodyear International. Dale R.
Jackson is a director of purchasing with the
Continental Grain Company of Chicago.
Christine Laning is a senior computer
designer with Martin Marietta Corp. in
Orlando, FI. Andrew J. Lubin has left
Alchem International to join Burwill (USA)
Inc. in Ft. Wayne, In. Paul Martell is with
BNP in Paris. Patrick H. Martin is a sales
representative with Warner Lambert in
Houston. John R. McArthur is with Deposit
Guaranty National Bank of Jackson, Ms.
Jerry McGuire is residing in Paris and is
employed with Made in France
International Sarosh Mehta has been
promoted to assistant marketing manager
with Kingston International of New York,
after four years in expert operations with
the company. Sarosh writes that she is
" learning the fine art of putting together
projects for as diverse an area as the
Mid-East to Singapore 'the T-Bird way: i.e.,
by doing, and love the challenge." Richard
L. Naughton is a credit controller for Direct
Container Line, a NVOCC based in
Gardena, Ca. Kevin P. O'Donnell has been
promoted to senior vice president for sales
and marketing at HPI (Hospital Pharmacies,
Inc.) in Los Angeles. Adeleke Odutula is a
managing director at Melchemie Nigeria
Limited, a chemical and fertilizer company
in Nigeria. Ken Pickens is an international
accountant with the Western Geophysical
Company in Houston. Marilyn Detjen
Philipp has been a personnel supervisor for
the law firm Hahn, Cazier, Leff of Los
Angeles since April, 1981. Bruce B. Proctor
is vice president of the Taiwan branch of
the Continental Illinois National Bank in
Taipei. Thomas J. Radl and his wife,
Deborah Ann, have moved to Dubai where
he has transferred with Firestone Tire and
Rubber Company as area sales manager. He
is responsible for all activities in the Gulf
States. William F. Rastetter is the director
of Catholic Relief Services in Yaounde,
Cameroon, where he is living with his wife,
Victoria. Carlos A. Roncal is a pricing
analyst for E-Systems Electronics
Communication Inc., ECI Division of
Florida. Thierry Rouvier is residing in
Sevres, France and employed with
Papiethyne in Aubervilliers. Anthony
Salcedo is an advisory security
representative with Wells Fargo Alarm
19
Services of California. Peter B. Sargent is a
vice president in the international division
of the Bay Bank of Boston, N.A. where he
manages the Asian concerns. Deborah A.
Smith has been named director of
marketing and public relations for the
Sporting Clubs, multi-function athletic
facilities located in Denver, Atlanta, and
McLean, Va. Stephen L. Smothers has
accepted a position as international
marketing manager with HCI Chemicals
(USA) Inc. of Houston. He and his wife,
Lynn, are living in Cyprus, Tx. Linda L.
Stack is a director de cuentas with the Leo
Burnett Ad Agency in Venezuela . Roy J.
Stoner is an international marketing
engineer for Latin America and Far East
with Varian Associates of Palo Alto, Ca.
Luis Fernando Talavera is with Talmor and
Co., S.A. in Lima, Peru. Douglas E.
Thompson is a sales manager for Westraco
Corporation, manufacturer of specialty
papers, in New York where he handles the
firm's sales to Africa, Mexico, and the
Orient. Peter M. White has been promoted
to regional sales director with the United
States Surgical Corporation in Norwalk, Ct.
Class of '76
Jeannot R. Barr has his own art business,
with offices in New York and Dallas, selling
to museums in the US, Canada and Europe
as well as to private collectors. He is also
writing a book and has a TV show on the
art market on a local station in Texas.
Garrett R. Bowden is a vice president with
the Cross and Brown Company, a real
estate brokerage/management firm in New
York. Kent K. Bullock is a manager with
A.L. Williams in Mesa, Az. Bruce Burnam
is an auditor with SelecTV, a pay TV firm in
California. Joseph E. Cochran II, vice
president with the Provident Energy
Company in Phoenix, was selected as an
Outstanding Young Man of America. V.
Frank Colangelo is a fleet computers
manager with Lykes Bros. Steamship Co. ,
of New. Orleans. He is charged with the
research and development of on-board
computer applications in both
administrative and technical areas. Barbara
Ackley Crofts is a senior accountant with
Arthur Anderson and Co. and is living in
Huntington Beach, Ca. Gabriel Cuellar has
been transferred to Miami with Graco, Inc.
where he is their sales manager for South
America. Cassandra S. DeBerge has been
promoted to vice president of the
international department of the Arizona
Bank. George Fong is managing director
with Beneficial Finance (HK) Ltd., as well as
assistant vice president and representative
of the parent company, The Consolidated
Bank and Trust Corporation,
Philippines-Hong Kong Rep. office in Hong
Kong. Warren A. Gresham, Jr. is manager
of the Europe/Africa division of
International Minerals and Chemical
Corporation in Mundelein, 11. Lynette
Guzzino is an account supervisor with
Wells Rich Green in New York. Kirk Dale
Haws has moved to Athens, Greece as
regional manager with the Clark Equipment
Company of North Dakota. Michael D.
Hennessey has been promoted to the
position of international sales manager with
the Dover Corporation/Blackmer Division,
20
where he has been servicing distributors in
the capacity of area manager in Latin
America. He has been with the firm since
1980 when he was hired as export
coordinator, after three years experience
with International Packaging Systems, Inc.
Steve Hering is with First Northwest
Bancshares, Minneapolis and is heading up
their Singapore representative office. R. Jon
Kailey and his wife, Kristin, have moved to
Saudi Arabia where he has transferred as
marketing manager with Owens-Corning
Fiberglas. Jack Isao Kakuda is a trader of
proprietary cash/financial futures and
foreign currency arbitrage with Lehman
Brothers, Kuhn, Loeb Inc. of New York.
Mark J. Kerrissey is the vice president-Latin
American division with the Santiago
Trading Corporation of Houston.
Christopher O. Kroos has left Chrysler after
spending five years with them in Australia
and the Middle East. He is joining
King-Seely Thermos Company, a division of
Household International as vice president of
marketing. David W. Loeb is living in Chile
where he has been appointed territory
manager of Chile, Uruguay, and Brazil for
John Deere Intercontinental Ltd. Ram
Manikkam and his family have relocated to
the Port Washington, Wi. area where he
has been appointed to the position of
technical services manager with Koehring
Construction Equipment. Bob Morey is a
service representative with International
Harvester in Vienna. W. Scott Morris has
been appointed second vice president,
leasing, with the First National Bank of
Omaha. Cynthia (Leidner) Muller is
residing in New York with her husband,
Carl, where she is assistant treasurer with
the Morgan Guaranty Bank, consultants to
MNC Treasurers. Edward R. Newill has
been promoted to market manager of plastic
surgery/special surgery equipment at the
main offices of American Heyer-Schulte
Corp. of California. Carlos Noble has been
named second vice president of Northern
Trust of Chicago. Brian Noon is a
marketing manager for Western Europe and
the Caribbean with Ecko Housewares of
illinois. Mike Nystrom is a senior
accountant with L.F. Rothschild, Unterberg,
Towbin of New York. Michael A. Perlino is
the general manager with the Singapore
branch of Harris Bank, Chicago. Thomas P.
Ringdahl is an international sales manager
with DATA South of Charlotte, NC. He is
living in Lake Wylie, SC with his wife,
Deborah. Ronald B. Schuh is a pilot with
Southwest Airlines of Dallas. Robert J.
Segota is a regional sales manager for Latin
America and the Caribbean with the
Whirlpool Corporation of Michigan.
Michael Short has been named vice
president and corporate banking head of
Citibank Nagoya, Japan. T. William Smale
is a distribution manager with Digital
Research of Pacific Grove, Ca. , a company
specializing in micro-computer software.
Lindsey Stewart is an account executive
with the Xerox Learning Systems in illinois.
Richard S. Thiessen has moved from Italy
to Singapore where he has accepted a
position with Brown and Root. Gloria A
Trierweiler is an account manager in charge
of new product development for Planter's
PeanutslDivision of Nabisco Brands with
the Benton and Bowles Advertising Agency.
Michael Hennessey 76 Barbara Griffin Marchese 78
She is living in Cliffside Park, NJ. Douglas
Trigg is an account director with McCann
Erickson Worldwide and is residing in
Kettering, Oh. with his wife, Janet. Cliff
Wall is a sales representative in south
central Texas for the Siemen Corporation, a
medical equipment manufacturing
company. Margo P. Wilton has accepted a
new position as senior analyst for the Texas
State Securities Commission in Austin.
Jeffrey P. Woidneck is living in Anaheim,
Ca. where he is employed with Business
Telephone Systems. William L. Wray is a
merchandiser-product development with
Blue Bell GmbH in West Germany. Thomas
E. Zapp has moved to Valencia, Venezuela
where he is working as territory manager of
marketing for John Deere International,
LTD.
Class of '77
Richard F. Avery is a region accounting
manager with the Geofrac Division of
Geosource Inc., an oil and gas well service
in Midland, Tx. William Bennett is a
national marketing director for the Steiner
Corporation, an American linen supply
company in Salt Lake City, Ut. Ralph G.
Bernfeld has been named president and
managing director of Goodyear de Panama,
in South America . Margaret (Baldwin)
Bigelow is associate vice president with
Manufacturers Hanover Trust in New York.
Albert C. Blunt is regional parts and service
marketing manager with Caterpillar Far East
Ltd. in Hong Kong. William S. Brackney is
the assistant supervisor of reservations and
sales with Piedmont Airlines of Reston, Va.
Boyd Brady is a district sales manager with
the Waldon Company of Canada. Peter D.
Browne is a stockbroker and assistant vice
president with Kidder Peabody & Co. in
San Francisco. He and his wife, Susan Stern
Browne ('77), are residing in Alemeda, Ca.
Thomas Chamberlain, Jr. is an operations
manager with Dr. Pepper/Canada Dry
International in New York. Steven Clarke
has accepted the position of international
marketing manager with Peabody Myers
Corp. of Illinois. He had served as a
Thunderbird resource person in Melbourne,
Australia . John M. Clatterbuck has left
Bank of California to join Banker's Trust
Company in Taipei as assistant vice
president. Laurence E. Crabb is a general
merchandise manager for DownerslJansport
of Wisconsin. James A. Cracco is on the
corporate staff of the Burroughs Corp. He is
the manager of acquisitions and divestitures
for the company, which has just recently
THUNDERBIRD WINTER 1982
acquired the Memorex Corp. John B.
Cypher is a sales representative for
Nippon-Denso of California and is residing
in Longbeach. Susana Del Carpio IS
assistant vice president with the Texas
Commerce Bank of Houston in their Latin
American division. John L. Draheim has
been promoted to loan officer in the foreign
trade department of Union Bank's
Chartered Bank of London in the San
Francisco office. Julie (Keefe) Fordyce is an
assistant vice president with the Credit
Commercial de France in New York. Forres
Genaro and his wife, Teresa Grace, are
enjoying their new home in Highland, Ca.
where he is working as an account
executive for Ambassador Cards, a division
of Hallmark, Inc. Belinda G. Goldberg is a
personnel director for Bullock's Department
Stores in Northridge, Ca. Sharon Graham is
living in Paris where she is employed with
Made in France International. Randy F.
Graves is a senior sales representative with
Wang Laboratories in Orlando, Fl. Vickie
A. Griswell is a manager in the Human
Resources Information Systems Division of
the Storage Technology Corp. in
Broomfield, Ct. Joseph J. Gross, Jr. is a
market research analyst with Dow Chemical
USA-Agricultural Products Division in
Midland, Mi. Siegfried Gunsenheimer is
with Gunsenheimer Management
Consultants Euro Marketing Services in
Boulogne-Billancourt, France. Arthur L.
Hale is the vice president in the Latin
American Division of AVIQUIPO Inc., an
aviation supply company of Lyndhurst, NJ.
Kathleen M. Hansen has returned to the
US as a business analyst with Levi Strauss
International of San Francisco. Bradley C.
Hodge has been named president of the
Overseas Oil & Gas Company of Dallas.
Robert J. Holmes is a regional credit analyst
for the General Electric Credit Corporation
in Dallas. Edward A. Irons has been
transferred to Hong Kong with Graphics
International (HK) Ltd ., where he holds the
position of executive purchasing manager.
James S. Johnston, formerly the US
Representative of Japan's Descente Ltd. and
Denver office manager, has been appointed
vice president of Descente America, Inc.,
the new US sales subsidiary in New York.
Eddie J. Jusino, Jr. recently joined First
Interstate Bank of California as
administrative assistant in the US banking
division and is residing in Marina Del Ray.
Karen A. Kleinschmidt has been promoted
to senior profit analyst and trust officer for
the Investment Management Division of
Crocker National Bank in San Francisco.
Dale Kramer is a manager of inter-company
sales, operations, and custom service with
the BF Goodrich Chemical Group/inter­national
marketing division in Ohio. Lynn
M. Kuchinski has been promoted to senior
data base analyst with the Coastal
Corporation of Houston. Peter A. Lamb is a
corporate service officer with the New York
branch of Toronto-Dominion Bank, where
he is involved in international money
markets. Jack A. Lavin has been named
assistant vice president with Citibank in
London. David J. Loechel has joined
American National Bank & Trust of Chicago
as second vice president of International
Banking. Dave H. MacCaulay is a regional
marketing representative with IBM in New
THUNDERBIRD WINTER 1982
York. Craig MacDonald is with Caterpillar
Overseas SA in Geneva, where he is
employed as a marketing analyst, as well as
teaching a marketin!5 Lla"" at Webster
College. Raulee Marcus has left Armour
Dial (Greyhound) to join the Neutragena
Corporation of Los Angeles. John R.
McLaughlin is a controller with General
Mills Restaurant Group Inc., international
division, in Orlando, Fl. Marcia Mergler
has joined the National Bank of North
America in New York as a senior banking
officer, where she will be working in the
international banking group's MidlFar East
Region. Ziya Muhamedcani has moved to
Tokyo with his wife, Safiye, and their one
year old child, Aziz. He has transferred as
new products development manager with
Johnson & Johnson, K.K. Charles J.
Munson II is a manager in the money
management department of Valmont
Industries of Valley, Ne. Farshid Najafi is a
self-employed developer in Tempe, Az.
Meredith Bell Nowak has been promoted
to international officer with the Rhode
Island Hospital Trust National Bank. Shirl
Parker is a purchasing manager for the
Sunbeam Appliance Co. for their plants in
Brownsville, Tx., and in Metamoros and
Sal tello, Mexico. Cynthia R. Schiavo is a
senior marketing staff analyst with
Baxter-Travenol, a hospital supply company
in Deerfield, II. Suzanne Schutte is living in
Paris where she is with Parfums de Prestige
International. Randolph J. Senkus is an
operations analyst with Babcock & Wilcox in
Wickliffe, Oh. Andrew Silling is an internal
auditor with the Greyhound Corp in
Phoenix. Anthony M. Souza is with
Citibank in Seoul, So. Korea. Robert G.
Starks is with the Ford Motor Company in
San Jose, Ca. where he is their
merchandising manager. Max R. Tarbox,
president of Elmer's Weights Inc., has been
appointed to the Export Council by the US
Secretary of Commerce. The purpose of this
group is to increase the US share of world
markets by encouraging small and medium
size firms to engage in exportation. Paul
Tolnai is the Western regional sales
manager with the Applied Solar Energy
Corporation of Ca. J. Wright Witcher is a
marketing planning coordinator with Eli
Lilly Canada Inc. and is residing in Ontario.
Joseph J. Yurgiewicz is the area manager of
Latin American truck components
marketing for the Eaton Corp. of Fl.
Class of '78
Frances M. Aldrich is assistant treasurer for
J. Henry Schroder Banking in Miami, Fl.
Pierre L. Bachoc has moved to London as
cattle products marketing planning
manager, EuropelMideast/Africa with Eli
Lilly Pharmaceuticals Agriculture Division.
His main responsibility is to prepare their
European affiliates for a unique dairy cattle
feed additive to be introduced in 1984.
Teresa (Baker) Backstrom is a technical
advisor with Bank of America in San
Francisco. Paui D. Brady is an assistant
manager of telecommunications for
DYNARABIA in Saudi Arabia. John W.
CodgiIl is a special agent with the US
Department of Labor-OIG in Detroit. Lamar
J. Crevassa is vice president of marketing
with Electronics Trade Center, Inc.,
importer/exporter of Sony and Pioneer
products of Miami. Leslie J. DeRoy is also
in Miami where she is the director of
marketing with Alexander Grant & Co Her
responsibilities there include all phases of
marketing: advertising and PR as well as
strategic planning for the tri-county area.
Jon Dietz founded Financial Statement
Services, a high-speed computer printing
service for credit unions, on the West
Coast. John E. Durbin recently transferred
to Houston from Ponca City, Oklahoma,
where he is employed as a financial analyst
in petroleum operations with the
Downstream Treasury Department of
Conoco, Inc. George K. Easton is teaching
in the department of management and
marketing at the California State University,
Fresno campus. Ibrahim M. Fahoum has
accepted a position as manager of the Saudi
Arabian Division of the Arab Bank Limited
in Bahrain. John J. Ford is district manager
for Circle Air Freight in Rockford, II. Dean
B. Gadda is a sales/operations manager
with the Contact Lumber Co. in Portland,
Or. Paul G. Gomez is with Dean Witter &
Co. in California. Roderick and Anne
(Whistler) Hornstein are in Santa Fe, where
he is general manager of the Hornstein Oil
Co., bulk and fuel jobbers in New Mexico,
and she is assistant vice president of the
Bank of Santa Fe. Herbert L. Jensen is a
senior lecturer in the department of
accounting at the National University of
Singapore. He resides in Kent Ridge with
his wife, Peggy. Scott A. Johnson has
finished his second year at the Indiana
University Law School and is "looking
forward to an extremely exciting and
lucrative career in international corporate
law." Robert A. Johnstone is a marketing
analyst with the Boeing Commercial
Airplane future product strategy
development group in Bellevue, Wa.
Aubrey S. Jones is a senior business analyst
with the Storage Technology Corporation of
Broomfield, Ct. George R. Joslyn is
employed with the Arnel Development
Company in Santa Ana, Ca. Joy A.
Kovalenski is a product counselor in new
product marketing with Avon's gift and
home decorative division in New York. Guy
D. Langvardt has been promoted to
executive account manager with the NCR
Corporation in Phoenix. Howard Buck
Hong Lee has joined the Asia division of
Manufacturers Hanover Trust in New York
where he handles international lending
accounts. Angela (Brown) Linburg is a real
estate broker with Merrill Lynch Realty and
is residing in Carrollton, Tx. Elaine
Lindquist is a marketing product manager
with All-Steel of Aurora, II. Michele Lionel
was performing in summer stock theatre in
Northern Ontario, after returning from
Cyprus and the Golan Heights where she
entertained UN troops. Barbara (Griffin)
Marchese has been promoted to vice
president/account executive of Adams
Associates, an advertising agency of York,
Pa. Jean Paul Martin is with Laboratoire
Rocal in Paris. Ana Maria (Briones) and
Abdolreza Masoodi are in El Paso, Tx.
where Ana Maria was recently promoted to
sales director with Holiday Inn Midcity. She
invites all local Thunderbirds to contact her
there. Abdolreza owns the A & A
Photography Studio there. Ruth S.
21
McCurdy is a product manager with AT&T
Long Lines of Morris Plains, NJ. Robert A.
Mendez is a communications manager with
Mexicana Airlines in Los Angeles. Raymond
E. Moon is an administrator with ERC
Wellhead of Oklahoma. He and his wife,
Rassadakorn, are residing in Oklahoma
City. Andrew Ng has been transferred to
Hong Kong with Beckman Industries where
he is a bioresearch sales engineer. Gail
Ozawa is a sales representative with the
Airborne Freight Corporation in Los
Angeles. Patricia A. Powell has transferred
to Cleveland, Oh. with the Gray Drug Fair
Division of Sherwin-Williams. She writes,
"The reputation of Thunderbird and superb
assistance from the placement office opened
the doors for me to Sherwin-Williams.
There are few 26-year-olds who are given
opportunities like this one with Gray Drug
Fair, which makes me truly appreciate the
role that Thunderbird has played in my
life." Raghavendra Prasad is a market
analyst with the IMI USA Co., a subsidiary
of International Industries in Houston. He
was selected from 220 applicants and he
writes, "The edge I had over all of them
was my Thunderbird degree." Douglas H.
Pressman has transferred, as assistant vice
president of the Bank of California, to
Bangkok. Kathryn Palmer Rathvon is a
manager in the international loan
department of the Crocker National Bank in
San Francisco. She writes that she is "proud
to see so many T -birds in Crocker's
international division." Jeffrey B. Scannell
has left RJ Reynolds Industries to accept a
position as senior financial analyst with the
Adolph Coors Co. of Golden, Co. Gregson
T. SHff is a budget control analyst with the
Northrop Corp. and is residing in Fullerton,
Ca. David A. Steffen is in Chile where he
is the manager of retail sales promotion for
Goodyear International. Ann Swank is a
marketing manager with General Mills, Inc.
in Memphis, Tn. Joseph Weber is an
assistant sales manager for Good-All
Electric, Inc. in Ft. Collins, Co. His
international responsibilities include new
market development as well as servicing a
worldwide network of distributors.
Class of '79
Craig Adams is a project manager for
Synergo International, an international
marketing firm of San Francisco. Brian D.
Althaver has been appointed commercial
loan officer with the National Bank of
Detroit. Barbara L. Armour is the manager
of military communications with AT&T
Long Lines in Washington, DC, responsible
for Bell System's annual revenues of
approximately $1 billion from the Army,
Navy, Air Force, Dept. of Defense, Joint
Chief of Staffs and White House accounts.
William Arnolds has assumed the position
of account executive, also with AT&T Long
Lines, in Troy, Mi. Dr. Mary Baron is a
resident graduate professor of the
University of Maryland's first graduate
program in their European Division in New
York. She writes that in her "wonderful
aSSignment" she "intends to stress
cross-cultural training as she is preparing
military and civilian graduate students to be
professional counselors." Steven A.
Bergkamp is an assistant secretary with
22
Manufacturers Hanover Trust in New York.
Jeffrey M. Biddle is an internal auditor
with the Greyhound Corp. of Phoenix.
Michael Borges has taken a new position as
president of the American Marketing
Company in Santa Ana, Ca. Jay Brandon is
a financial planner and analyst with NL
Baroid of Houston, Tx. Robert R. and
Catherine (O'Malley) Burke are living in
Bethlehem, Pa. where both are employed
with the Bethlehem Steel Corp. Robert is a
sales representative for the company, and
Catherine is a credit analyst there. Donald
J. Caldwell is a CPA with Delap, White, &
Raish of Portland, Or. He and his wife,
Joni, are residing in Lake Grove. Timothy
P. Campbell is a district sales manager for
United States Lines in Washington, D.C.,
responsible for mid-Atlantic exports to the
Far East. Tim Caverly is manager/exporter
for Manufacturers & Trade Trust of New
York. Conrad M. Eilts has been promoted
to second vice president of the Bahrain
branch of Chase Manhattan Bank, NA.
Lynn K. Engstrand has gone into the
consulting business in Washington, D.C.,
where her firm, EngstrandiKincaid
Consultants, is heading up a restructuring
of the agriculture program in Jamaica.
David Feld is an international officer for
Maryland National Bank, responsible for
their lending business in Venezuela,
Colombia, Ecuador, Peru, and Chile. David
W. Ford owns an import company in
Oakland, Ca. Phillip H. Foster is the US
sales representative for International Sales
Promotion Inc., in the Republic of South
Africa. Patrick Francois is with the Societe
Auchan in Villinueve d'Asoq, France. Jack
Glen is an internal auditor with the
Greyhound Corp. in Phoenhc Francois
Guerin is reSiding in Paris where he is with
Roga Garnier. Thomas J. Hanson is a
corporate purchasing agent for U-Haul
International in Phoenix. David K. Heller
and his wife, Susan, are residing in San
Francisco where he has been promoted to
Lieutenant Commander with the US Navy.
Tom Hofmanner visited AGSIM in
September and informed the alumni office
that he has taken a position as junior
account executive with Tragos, Bonnage,
Wiesen danger, & Ajroldi, a Swiss
advertising agency located in Zurich. Diane
Homa is vice president of Audio Visual
Innovations of Florida. William L. Hussey
has been promoted to trade finance officer
with the First National Bank of Chicago.
Brian H. Jacobson is a systems specialist
with the CPT Corp.lCanada and Far East
Divisions in Minneapolis. Rosalie Johnson
has left Seagrams in New York to take the
position of manager of business planning
with PepsiCo Foods International in their
Dallas headquarters, handling international
snack food products. Kyoko Kent is a
nutrition specialist with American McGaw
Pharmaceutical Co. of Irvine, Ca. Liz
Konold has accepted the pOSition of director
of annual giving at the University of
Redlands in California. Robert S. Malott
and his wife, Laiyee, are living in Ohio
where he is recuperating after sustaining
back injuries in a Colorado car accident. He
was recently offered a contract to work for
E-Systems as a logistics coordinator in their
Cairo office providing support services for
the MFO peacekeeping operation in the
Sinai, but was unable to accept due to
pending surgery. Nancy Fuhrman Martin
has taken a position as financial analyst
with Blue CrosslBlue Shield. She and her
husband, Peter Martin are living in Denver,
Co. where he has been transferred with the
Mitsubishi International Corp. Patricia
McArdle-Fendrick is an attache with the
Foreign Service in the Department of State,
Washington, D.C. William R. Moore has
left DHL International to join with Merrill
Lynch as an account executive in Panama
City. Steven L. Munsell has been promoted
to sales manager for the Tulsa District of the
MISCO Supply Company. He writes, "The
training and education received at
Thunderbird has paid many dividends thus
far, not the least of which is my rapid
advancement within the company."
Stephen J. Nolan and his wife, Judy, have
been in Jerusalem since July 1980, where he
is serving as an administrative officer in the
American Consulate. Stephen K. Orr is
assistant vice president in the international
finance-foreign exchange division of
Citibank in New York. Yongho Park is a
marketing manager for Superline in
Belleville, NJ. John W. Peecher has left
Bank of America to join the Mitsubishi Bank
of California and is residing in La Habra,
Ca. Emily R. Rayes has accepted a position
as assistant manager with Citibank NA in
Manama, Bahrain. Kenneth D. Roberts has
been appointed assistant to the general
manager for Target Airfrei

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Full Text

CONTENTS
"If all the dollars Poland owes
Western banks were laid
end-to-end, they would encircle the
globe fifty-seven times." Circular
logic, you say? A vicious circle or
virtuous circle, you ask? Credits for
the catch line go to The Economist,
which in a recent issue chronicled
in terna tional banking's fall from
grace, in an article entitled" A
Nightmare of Debt." If a more
prosaic version of this saga is
preferred, enter Hollywood's
pedestrian interpretation of
international finance, rendered by
Jane Fonda in the movie
"Rollover." Indeed, the media have
made obituarizing quite fashionable
of late. But apart from such
scenario-making, a relentless
spotlight justifiably shines on our
fragile international banking
system, focused on such
imponderables as:
• the etiology of dysfunction
• the apparent failure dynamic
• the appropriate response
mechanisms
It is to these and other cosmic
issues (in keeping with the
astronomical analogies) that this
piece is addressed; however, no
universal claims will be made. 1
'To the reader disinclined to puns, I extend my
apologies.
I NTERNATIONAL H~~~~~h~~!e~:~~n~~oos,
BAN KI NG Ame:ica's role in ~te:national
• bankmg was very lImIted, a
• consequence of strong ethnocentric
bias, cultural isolationism, and a IS
THE
PARTY
OVER?
by Frank Tuzzolino
Frank Tuzzolino is currently an
Assistant Professor of Finance in the
World Business Department, in his
second year at AGSIM. A native New
Yorker, he has taught at Long Island
University, SUNY, Manhattan College
and Arizona State University. Former
corporate employers include Citibank,
Harris and CBS. He has also consulted
for McGraw Hill and Frost & Sullivan,
both in New York City, and is presently
a partner in a venture capital firm in
Phoenix.
minor role in international trade.
As always, regulation didn't help,
i.e., a prohibition on any form of
branch banking by national banks.
With the passage of the Federal
Reserve Act of 1913, a foreign
presence began to emerge. Banks
had hitherto pursued such
traditional international banking
activities as foreign exchange and
the sale of letters of credit from
their domestic offices. Many,
particularly the regionals, still do.
Once the doors were opened to
foreign branching by national
banks, however, the response was
swift. Additional impetus was
provided by Congressional passage
of the Edge Act (1919), which
enabled U.S. banks to establish
special subsidiaries (Edges) to
engage in international activities
proscribed domestically, e.g.:
• foreign exchange trading
• international lending
• issuing or confirming letters of
credit
• accepting deposits from foreign
parties
• creating bankers acceptances
• international investment banking
and investment management
services
IS
THE
PARTY
OVER?
Mapping the Ascent Trajectory
Global banking institutions
facilitate international economic
transactions the same way
hometown banks help local
business. Both finance trade and
investment by creating money and
credit and by channeling resources
from savers to borrowers.
International banking and finance,
however, is often more complex
than the domestic version.
Complications arise partly because
of possible problems with foreign
currencies and partly because
physical and legal barriers limit the
free flow of goods, services and
payments across national
boundaries. Useful credit
information on business firms in
foreign countries is also relatively
scarce.
Despite these complications, U.S.
international banking activity has
grown enormously in recent years.
In part, this trend reflects the
growth of international commerce.
But it is also a result of U.S. and
foreign banks establishing more
offices outside their home
countries. As the world's
economies become more entwined,
these banks are motivated to serve
existing customers better, to attract
new customers, and to diversify
their sources of earnings and
funds.
The enabling legislation of the
Wilsonian era was a watershed for
international banking. Yet the
emphasis by American banks on
such activity is a far more recent
phenomenon. Assets of major
foreign branches of U.S. banks rose
16% in 1981, to $376 billion by
year-end, reflecting continued
growth in foreign branch lending.
Though numerous reasons can be
cited to explain this ascent, the
profit lure dominates. This is
particularly true for money-center
2
banks, which derive roughly % of
their income abroad (see Table 1).
Other international banking stimuli
include:
• chronic U.S. balance-of-payment
deficits
• government regulation
• portfolio diversification
• defense of a domestic customer
base
• comparative advantages in skills
and resource transfers
As the U.S. became a major
capital exporter in the post-WWII
period, its commercial banks
followed customers to developing
countries and major industrial
centers. Some of these banks
expanded internationally because
they felt their distinctive
competence bestowed comparative
advantages in a certain area, as did
their global scanning capability
(internalization theory).
Portfolio-theoretic considerations
also motivate bank expansion.
Diversification can take place
because loan demand and default
patterns differ abroad. With an
internationally diversified customer
base and loan portfolio, a bank's
cash flows can be de synchronized,
and its portfolio efficiency
improved.
Of the five factors cited, the first
two-government regulation and
balance-of-payments deficits-have
been the most relevant in
accelerating the migration of U.S.
banks. United States capital
controls during the mid-1960s
(~tere~t equalization tax, foreign
dIrect mvestrnent regulations, and
the voluntary foreign credit
restraint program) pushed
American banks abroad, and
TABLE I
encouraged them to fund their
overseas lending from foreign
branches. At the same time, banks
were hampered by deposit interest
rate ceilings (Regulation Q) and
disintermediation problems; they
countered with foreign branches
offering Eurodollar time deposits
and certificates of deposit at rates
competitive with alternative
domestic (nondeposit) media.
These developments, coupled with
continuing OPEC problems of the
1970s, fueled a stron~ rise in
petrodollar recycling and
aggravated a festering U.S.
balance-of-payments problem. Such
turbulence has spawned an array of
organizational approaches to
international banking, some of
which appear in Table II.
Current Trends-In Quest of a
"Level Playing Field"
Though default and
reschedulings concatenate recent
events, the foreign banking
invasion of the U.S. warrants some
attention. The stage of international
banking has grown larger, as has
the cast of competitors that jockey
for position within it. U.S. banks,
once on the leading edge of two
decades of change, are now a
smaller factor in a much broader
market. Attracted by the huge,
politically safe bases for foreign
2"Recycling" refers to the process whereby the funds
of surplus countries are loaned back to deficit
countries. The recycling may be direct, whereby a
government such as Saudi Arabia lends funds to a
deficit country such as Brazil, or indirect, whereby
Saudi Arabia deposits funds in a bank, which then
makes a loan to Brazil.
International Banking's Risks and Rewards
1981
Foreign
assets
Foreign net
income
Millions of dollars
Return on
Foreign Assets
Percent
BankAmerica Corp. . ............ $48,373 ..... $245 ........... 0.51 %
Citicorp ........................ 70,177 287 ........... 0.41
Chase Manhattan Corp .......... 44,758 ..... 247 ........... 0.55
Manufacturers Hanover Corp. . . .. 30,037 ..... 120 ........... 0.40
J.P. Morgan & Co .............. 30,278 .... 234 ........... 0.77
THUNDERBIRD WINTER 1982
capital investment, promising loan
demand and access to domestic
U.S. dollar funding, a number of
foreign banks have made large
inroads into the U.S. market.
Recent entries include:
• Holland's Algemen Bank's
purchase of LaSalle National
Bank, Chicago.
• British Midland Bank's $820
million successful bid for
California's Crocker National
Bank.
• Hong Kong and Shanghai
Banking Corporation's takeover
of Marine Midland Bank of
Buffalo, New York.
• Banque Nationale de Paris'
acquisition of Bank of the West,
San Jose, California.
Assets of foreign banking
institutions in the United States
rose 19 percent in 1981 to $223
billion. The increase was smaller
than the 35 percent increase
recorded in 1980, but it still
exceeded the 10 percent increase in
the assets of domestic banks during
the same period.
The expansion of the activities of
foreign banks in the U.S. market
reflected in these figures represents
a continuation of a trend that began
in the early 1970s. In 1973 there
were 111 foreign banking
institutions with assets of $30.5
billion operating in the United
States. All of these institutions
were chartered and organized
under the banking laws of
individual states and were
geographically concentrated largely
in the financial centers along the
Eastern seaboard. During the next
five years both the number of
foreign banks in the United States
and the scope of their activities
expanded dramatically as more
states passed enabling legislation
permitting foreign banks to
establish operations within their
boundaries. By 1978, the number of
foreign branches and agencies had
reached nearly 260, and their total
assets were over $103 billion.
The growing involvement of
foreign banks in the U.S. financial
system prompted the passage, in
September 1978, of the
International Banking Act (IBA),
which, for the first time, provided
for federal supervision and
THUNDERBIRD WINTER 1982
TABLE II
Types of International
Banking Offices
Commercial Banks. The larger
commercial banks usually have both
domestic and international operations.
The international departments make
international loans and deal in letters
of credit and collections, often through
their correspondent foreign banks.
They may also deal in foreign exchange
and provide trust and other services to
corporate customers and individuals.
Deposits they take in U.S. offices are
subject to reserve requirements, and
Regulation Q limits the interest rates
that banks may pay (except for IBF
deposits--see below) on demand and
time deposits. The maximum loan a
bank may make to anyone customer is
subject to regulatory limits based on
the bank's capital. U.S. chartered
(federal or state) banks may be wholly
or partly owned by foreigners. A
subsidiary bank is incorporated
separately from the foreign bank which
owns it.
Foreign Bank Branches. This
organization is an integral part of the
foreign bank that establishes it. A full
service branch can perform the full
range of banking services; its lending
limit is based on the parent bank's
capital. Foreign banks have established
full service branches in the U.S. just as
U.S. banks have established
full-service branches in other countries.
Limited operations, or "shell,"
branches (like those located in the
Bahamas and the Cayman Islands) are
used by U.S. and foreign banks to
avoid home country regulations and for
tax purposes. These branches exist "on
paper" only; loan and deposit
transactions are determined at the
parent bank and then legally recorded
or "booked" at the bank's offshore
branch.
regulation of foreign banks
operating in the United States. The
IBA created a regulatory structure
aimed at promoting competitive
equality between foreign and
domestic banking institutions in the
United States (see Table III).
Foreign Bank Agencies.
Agencies are authorized to make
business loans, finance international
trade, and conduct money market and
foreign exchange operations, but they
may not perform trust functions. They
also may not accept demand or time
deposits but may hold credit balances
for customers. Agencies' funds are
obtained mainly by borrowing from
foreign affiliates or in the U.S. money
market. There is no regulatory limit on
the size of a loan to a particular
borrower.
Edge Act Corporations. The
Edge Act (1919) permits domestic banks
and the International Banking Act of
1978 permits foreign banks to establish
either banking or investment Edge
corporations. The dominant form, the
banking Edge, functions like a full
service bank-but only for
international business. Investment
Edges do not engage in banking
activities; instead, they exist to hold
and manage an equity portfolio of
foreign investments.
International Banking
Facilities. IBFs may be established
by U.S. depository institutions and
U.S. offices of foreign banks to serve
as record-keeping entities at mainland
offices. They are similar to the offshore
"shell" branches that banks have
maintained in such places as the
Bahamas and Cayman Islands to
handle foreign business. IBFs are
permitted to conduct only international
banking business such as taking
foreign deposits and making foreign
loans. Total assets of IBFs of U.S.
banks totaled about $48 billion by
year-end 1981, evenly split between
those established and operated by
indigenous U.S. commercial banks,
and those held by U.S.-based branches
and agencies of foreign banks.
Implementation of the IBA was
meant to provide a more level
playing field; the growth of foreign
banking activity has decelerated,
but remains brisk. Some U.S. banks
have breathed a premature sigh of
relief. Geographic dispersion of
3
IS
THE
PARTY
OVER?
some foreign banks within the U.S.
is already history. An end to
McFadden (we've had many
end-arounds to date) would leave
many such institutions, e.g.,
Barclays Bank, very favorably
positioned. One could argue
similarly if Glass-Steagall were
revoked, in that the so-called
universal banks of Europe would
enjoy a distinct competitive edge in
the U.S., developing and refining
expertise in a "department store"
variety of services and products.
Ironically enough, another
homespun attempt to make the
playing field more level (this time
with domestic banks in mind) will
have profound effects on the
subsequent nature and scope of
international banking. To this we
0:-ve thanks to the most sweeping
pIece of financial legislation in U.S.
history, the Depository Institutions
Deregulation and Monetary Control
Act (MCA) of 1980, provisions of
which appear in Table IV.
The face of U.S. banking has
since been changing at breakneck
speed, rapidly eroding the
time-worn precepts about what
constitutes a bank and a thrift
institution, the services each can
offer, and their legitimate domains.
The MCA hallmarked a financial
revolution, marked in turn by a
redirection of much energy and
emphasis by U.S. banks to their
domestic activities (a born-again
ethnocentricity). Indeed the
financial congeneric, American
style, is upon us. Now you can buy
your socks where you buy your
stocks (Sears of course). Add to
your list of this growing breed the
likes of Dow 30 newcomer
Shearson/ American Express;
Prudential-Bache; Xerox and its
insurance subsidiary Crum and
Forster; Citibank and B of A, whose
respective sights are set on
4
TABLE III
Provisions of the
International Banking Act of
1978
• Limits the interstate branching of
foreign banks.
• Provides for federal licensing of
branches and agencies of foreign
banks.
• Authorizes Federal Reserve Board to
impose reserve requirements on
branches and agencies of foreign
banks.
• Gives broader powers to Edge Act
corporations to compete more
effectively with foreign banks.
• Subjects foreign banks operating
branches and agencies to the
non banking prohibitions of the
United States Bank Holding
Company Act.
TABLE IV
What the Monetary Control
Act Did
• The Federal Reserve set new and
lower reserve requirements for all
commercial banks, savings banks,
and savings and loan associations,
instead of just for Fed member
banks. These are being phased in
over three years for member
banks, seven years for other
institutions. The Fed also becomes
lender of last resort for all 40,000
depository institutions.
• All depository institutions can offer
interest-bearing checking (or NOW)
accounts, with an initial maximum
interest rate of 51/4 percent. Such
accounts were previously available
only in New England, New York,
and New Jersey; and the maximum
rate is 5 percent.
• All deposit interest ceilings,
including the Fed's Regulation Q, are
being phased out over six years.
• Federally chartered savings and loans
and savings banks gained new
lending and investing powers,
enabling them to make more
consumer loans, offer credit cards,
and invest in commercial paper and
corporate debt.
• State usury laws governing certain
loans were wiped out for three years,
by which time states are supposed to
raise outdated borrowing rate
ceilings.
discount brokers Quick & Reilly &
Charles Schwab (farewell
Glass-Steagall). Also bid adieu to
McFadden, given that the Fed
recently sanctioned interstate
mergers, i.e., Citibank's acquisition
of California thrift Fidelity Savings
and Loan.
Buttressing such strategic
redeployment are institutional
changes prompted by the silence of
MCA on some regulatory issues.
The driving forces behind these
recent innovations are the
unexpected and abrupt lurches in
the level and volatility of interest
rates, and the major technological
improvements in the transmission,
processing and storage of
information. This new "line of
commerce" includes sweep
accounts, retail RPs (repurchase
agreements), debit cards, bank
money-market funds, ATS and
NOW accounts, just to mention a
few. One can see why U.s.
bankers, facing the confluence of
record high real interest rates,
plummeting commodity prices, and
mountains of LDC debt, may
welcome the inevitable bloodshed
in this new financial arena. Thus
domestic banking's new marketing
mix will be fully exploited, as
bankers scurry to cut their risk
overseas. (See Table VI.) Exit the
"3-6-3" syndrome.,,3
International Lending -
Syndromes Galore
Having extricated themselves
from near-defaults in Nicaragua,
Turkey & Poland, bankers now face
the monumental task of managing
a carrion of reschedulings, i.e., the
"merry-go-round" syndrome. Their
biggest headache is Latin America,
where $55 billion is tied up,
inclu~i~g $.9 billio~ in Argentina,
$15 billion In Brazil, and $18 billion
in Mexico. Refinancings are not
only growing more frequent, but
exploding in magnitude. The
rescheduling of Poland's 1981 debt
alone came to $2.2 billion.
Argentina's $23 billion
indebtedness to Western banks
keeps loan officers quaking in their
boots. At the end of 1980, Brazil,
3Pay depositors 3%, lend their money at 6%, and be
on the golf course by 3 P.M. It seemingly is a
monotonically increasing function of a bank's
distance from the 74° meridian Uust a Yankee barb).
THUNDERBIRD WINTER 1982
Mexico & Argentina together had
loans outstanding from the nine
largest American banks amounting
to 100% of these banks' capital and
reserves. Don't mention the word
"domino" at the Paris Club! Even
those expansion-minded regionals
that went international in the 1970s
(a trendy choice) are now chafing at
the bit.
International lending is becoming
increasingly entwined in politics, as
evidenced by the Iranian and
Argentine asset freezes, along with
Citibank chairman Walter Wriston's
comments on Polish Solidarity. As
chronicled by Anthony Sampson in
his book, "The Money Lenders,"
bankers seem to be suffering from
yet another syndrome-herd
instinct. This lemming syndrome
implies a perception by bankers of
a global safety net, an invalidation
of the old rules, under which rash
bank decisions would have put
them out of business. This delusion
of "no-fault banking" is but a
subset of a more serious no-fault
mindscape plaguing U.S. society.
Bankers' willingness to chain
themselves together when standing
at the edge of a precipice has very
effectively averted any suicidal
leaps. They feel assured that some
TABLE V
instrumentality, be it the U.S.
government, the I.M.F., the World
Bank, Russia (the so-called
"umbrella theory"), the Bank for
International Settlements, or even
"deus ex machina," will make sure
they don't lose money on their
sovereign loans. As such, they are
destined to become handmaidens
of U. S. foreign policy.
Growing numbers of banks,
meanwhile, are resorting to loans
of shorter maturities. Others are
looking for "stand-alone
transactions," whereby a borrower
stores a commodity in a warehouse
outside its jurisdiction. Yet another
tactic is to co-finance with the
World Bank. Mounting
reschedulings increase the risk that
some banks, particularly regionals
(read spoilsports), will cut and run,
pOSSibly triggering a default if loan
agreements so stipulate. Thus the
major banks have a responsibility
to help smaller ones in trying to
hold a credit together. They help
their own cause via an elaborate
system of legal tripwires, as well as
loan covenants peppered with
cross-default clauses.
So to what clandestine
rendezvous does this cast of
crepuscular bankers, wily finance
International Banking Triads
ORACLES WORRIES
OECD Brazil
Morgan Mexico
Guaranty
World Bank Argentina
CREDITORS
Governments
Commercial Banks
International Agencies
ADVISORS SHAKERS
Kuhn Loeb Tom Clausen
(World Bank)
Lazard Freres Henry Wallich
(FED)
S.G. Warburg Tom Theobald
(Citibank)
DEBT GUIDES
Debtor Reporting System
(World Bank)
Development Assistance
Committee (OECD)
International Capital Market
Statistics (CMS)
STRATEGIES
Global Scanning (Money-center banks & consortia)
Product differentiation (Wholesale banking and financial services)
Market stratification (Middle-market customers)
THUNDERBIRD WINTER 1982
ministers, Zurich gnomes,
chameleonic accountants,4
Cassandras and c;cenario builders
go from here? We already have a
book and a movie. Bright and
hopeful international lending ideas
abound, some of which include:
• multilateral insurance of bank
loans
• capital cost to current cost
conversion through leasing
• more co-financing (the "I Wanna
Hold Your Hand" syndrome)
• tougher "conditionality"
• use of IMF resources in the
upper-credit tranches
• more comprehensive insurance of
private investment
• improved early-warning systems
• staggered & extended
disbursements to country
borrowers
• a global regulatory mechanism
(wider fish-eye lens)
• increaSingly larger bad-debt
reserves (a European preference)
International Banking Prospects
The major worries and issues
include:
• rapidly accelerating debt, of
which a dollar-thirsty thirteenS
countries account for almost
two-thirds (of over a $1/2-trillion
total); Brazil and Mexico alone
owe nearly one-quarter of the
total.
• burgeoning debt service ratios
(21 % in 1981) for developing
countries, as spreads widen and
maturities shorten.
• 75% of the private lending,
which accounts for over 713 of the
debt of the thirsty thirteen, is at
floating rates.
• many of the big borrowers are oil
importers, such that export
earnings (nearly %) are devoured
by interest payments and import
bills.
• no agreement on how banks
should set aside reserves for their
international lending, or what
"prudential reserves" would
comprise, currently exists.
• a need for uniform accounting
COlltillued 011 pase 7
"They have to be chameleonic to handle those
slippery, if not at times slimy, accounting numbers.
'A triskaidekaphobe's nightmare.
5
AIl? If AGSIM didn't have an
alumni association, it would have
to invent one. In fact, that is what
has been happening; we've been
inventing your alumni association.
The proposed name is Associated
Thunderbirds International (A. T.I.).
It will be a dynamic and constantly
growing organization with a flexible
structure.
The largest component will be
Associated Thunderbirds, Inc.
(USA). It will provide the
communication and coordination
for all Thunderbirds living in
American states, commonwealths
and territories. The USA unit will
be divided into regional councils,
and urban chapters where sufficient
numbers and volunteer leaders
exist.
Outside the U.S., multinational
regional groups, national units and
urban chapters will be organized.
For example, Associated
Thunderbirds Latin America will
cover Central America, the
Caribbean and South America.
Within that region there are
sufficient numbers for national
units in Mexico, Venezuela, and
Brazil. Urban chapters for Mexico
City, Caracas, Sao Paulo, and Rio
de Janeiro may be formed;
however, the Mexico national unit
and the Mexico City chapter would
be comprised of nearly the same
people. Similar cases exist in
Singapore, Hong Kong, and a few
other locations.
As mentioned elsewhere in this
issue, Japan and Korea national
units and west continental Europe
regional groups have already
organized. Recognized chapters
would have voting seats on the
next level of organization; the
national units, etc. There are many
6
• T-BIBDS
UNITE!
A ssociated T hunderbirds I nternational
A@~IMI American Graduate School
of International Management
[1973 - ]
T@~TIIMI Thunderbird Graduate School
of International Management
[1968 - 1973]
&IWlf American Institute of Foreign Trade
[1946 - 1968]
Associated Thunderbirds, Inc. [U.S. of A.] :
*Atlanta
Greater Chicago
Florida (Greater Miami)
Greater Dallas - Forth Worth
Greater Los Angeles
*Orange County, California
*Greater Pittsburgh
*Greater San Diego
New England (Boston-Providence)
Greater New York
Greater Houston
*Greater Kansas City
San Francisco Bay Area
*Seattle - Tacoma Area
Greater Washington, D.C.
# Puerto Rico
Associated Thunderbirds, Europe
Associated Thunderbirds, [U.K.]
Associated Thunderbirds, [Germany]
Associated Thunderbirds, [France]
Associated Thunderbirds, Far EastlWest Pacific
Associated Thunderbirds, [Japan]
Associated Thunderbirds, [Korea]
Associated Thunderbirds, [Hong Kong]
Associated Thunderbirds, [Singapore]
Associated Thunderbirds, Latin America
Associated Thunderbirds, [Brazil]
Associated Thunderbirds, [Mexico 1
Associated Thunderbirds, [Venezuela]
Associated Thunderbirds, Middle East
Associated Thunderbirds, [Saudi Arabia]
*Organizing or Irregular programming
#May have duel affiliation with A.T., Latin America
THUNDERBIRD WINTER 1982
th!ngs to be resolved and the plan
will be modified in response to
your reactions. For example, we
need to determine who and how
many shall serve as directors at
each level of organization, what
sort of ex-officio, elective and
appointive process should be used
to determine officers and
succession for each unit and what
relationship shall exist between and
among the various levels and units.
There are a good many models and
ideas from which to choose.
We need your response.
Preliminary reaction from a small
number of alumni who have visited
campus or attended chapter
leadership group sessions has
favored some sort of fee, dues, or
life membership payment to build
an operating fund endowment for
ATI. We want all alumni of the
school involved. Other dues paying
associations we've contacted can
only count some 15 to 40 percent of
theIr potential members willing to
pay dues. Are Thunderbirds
different?
Whatever we decide about
money, we need leaders. Please
volunteer and nominate other
'f-Birds for organizational roles. The
international, regional and national
board posts will largely be policy
and communication posts with
occasional operations committee
and conference work involved.
!v1any T-Birds have been doing
mvaluable work recruiting
students, referring jobs and
employers, and assisting in fund
raising for years. Now the
additional opportunity of building a
formal alumni communications and
advisory network is available.
All Thunderbirds have a vested
interest in the reputation and
effectiveness of the school. Alumni
achi~vement, broadly communicat­ed,
IS one of the major pillars of
that reputation. An alumni
association is a primary means for
enhancing communication and
providing counsel to the school as
it continues to pursue excellence
and its founders' dream. Please, let
us hear your thoughts and
nominations!
Tom Kidd
Director of Alumni Relations
THUNDERBIRD WINTER 1982
IS
THE
PARTY
OVER?
Continued from page 5
procedures and disclosure
standards.
• a "tiering effect" in interest rates.
The particulars are grim. Third
World debt has more than
quintupled in a decade, and by the
end of this year could top $600
billion, approximately half of it
owed to private banks. Repayments
falling due in many cases rival the
debtor nations' foreign exchange
earnings, and the cash-flow
squeeze is expected to worsen in
1983 and 1984. This year alone,
more than a score of debtors are
likely to seek rescheduling of
upward of $30 billion in payments
falling due. That would be three
times the amount that couldn't be
TABLE VI
Domestic Banking's
Changing Marketing Mix
Product-retail RPs; sweep
accounts; jumbo CDs;
money market accounts;
truncation; alternative
mortgage designs;
unbundling; a new
"line of commerce."
Place-interstate; a national
market; a new "turf";
consolidation &
homogenization.
Price-full cost pricing;
unbundling; price
competition.
Promotion-aggressive &
predatory, via
boutiques &
congenerics;
VIDEOTEX; nonprice
strategies; self-service
& shared delivery
systems.
paid on time in 1981 and more than
six times the rescheduling needed
in 1980. Week by week the roster
of foreign defaulters (actual or
prospective) expands, and the
quality of loans to troubled
countries (& domestic companies,
for that matter) grows more
suspect.
To conclude on a more sanguine
note, there is little doubt that the
rate of growth of international
lending over the next few years will
decelerate, and the terms of that
lending, i.e ., yields and maturities,
will harden. But there's more to
banking than just lending. The U.S.
is being inexorably pulled into the
orbit of an increasingly integrated
&Iobal , capital , market network. The
finanCIal serVICe needs of this
market, however, are virtually
untapped, To be fully exploited,
legislative initiatives, as well as the
present delivery system (branches),
will have to change somewhat.
Superior institutional technology
should allow U.S. banks to get
more business from foreign MNCs.
Productivity improvement in the
industry will be the linchpin of
such change. Though scares that
the international financial system
may unravel have not been fully
scotched, the potential rewards of
the g.ame seem to adequately reflect
the rIsks. There is lingering
suspicion that, despite their lament,
banks do rather well, even from
rescheduling. In fact, fee-earning
merchant bankers have found a
booming new business advising
hard-pressed countries how to
manage their debts. So despite its
nightmarish leitmotif, even the
crazy-quilt world of international
banking sports a silver lining of
sorts.
7
An
Interview
with
Dr.
Gulick
by Nancy J. Greenberg '83
After 18 years of service as
American Graduate School of
International Management's Dean
of Admissions, Dr. Robert L.
Gulick, Jr. has retired from this
position on the Thunderbird
Campus. While he intends to
remain with the school as professor
of international studies and foreign
student advisor, this November
Dr. Gulick handed his former
responsibilities over to his assistant
and long-time friend, John James
Arthur, '57.
The position of Dean of
Admissions today is much different
from the one which Dr. Gulick
accepted in March of 1964. The
school, and particularly his office of
admissions has undergone a
metamorphosis, undoubtedly due
in part to the ideas and the vitality
which Dr. Gulick brought to
AGSIM. His rich and varied
experiences prior to his
appointment here, as well as his
continuing achievements in office,
have added much to the
development of the school.
As befits the international nature
of AGSIM and the tradition of its
personnel, Dr. Gulick has had
much experience in international
affairs, ranging from business
enterprise to service in the public
sector. The California-born and
educated former dean has traveled
much of the world. At the time he
accepted his position with the
school, then called The American
Institute for Foreign Trade, Gulick
was in Libya where he was
engaged in supplying material to
oil exploration companies. His
public service work preceded this,
beginning with foreign service in
the U.S. Bureau of Customs. There
he held the position of appraiser
for five years. After World War II,
Dr. Gulick was appOinted
economist at the Carnegie
Endowment for Interna-tional
Peace in New York
and Secretary- Treasurer
for the Committee on
International Economic
Policy, working for the
continuation of the
reciprocal trade agree­ments
program and for
the approval by
Congress of the British
Loan Agreement.
At this time, he also
had the privilege of attending the
first postwar Congress of the
International Chamber of
Commerce in Montreux,
Switzerland, as well as participating
in events relating to the formation
of the United Nations in San
Francisco. In the British Loan
Agreement campaign, Dr. Gulick
was involved in writing a pamphlet
setting forth the reasons for
approval, at which time he
developed a question and answer
technique which he has
subsequently used with great
success in the literature regarding
AGSIM, to respond to the many
questions of potential T-Birds.
Dr. Gulick has also had extensive
experience in teaching and
lecturing. When his term with the
Carnegie Endowment carne to an
end, he returned to his native and
beloved state to lecture on the
Berkeley Campus of the University
of California, where he had
received his M.A. and Ph.D. while
working in the United States
Customs Service. He edited and
published extensively there on
topics pertaining to world trade
policy and to the Middle East, his
area of expertise and the homeland
of his wife and current Assistant
Professor of Arabic at AGSIM,
Bahia Gulick. He also engaged in
some extramural work at the
university, editing pamphlets on
tariff protection for farm products
and arranging for guest speakers
before business groups. He
arranged for the visit of the former
Shah of Iran to the Berkeley
campus. In November 1976, he
lectured at the universities of
Baghdad, Sulaymaniah, and Mosul
in Iraq.
When Dr. Gulick arrived on the
Thunderbird Campus in 1964, the
job of Dean of Admissions was a
nebulous one. He recalls, "There
was not much in the way of
briefing. At the time, I understood
that my chief task would be to
travel around the nation and build
up the student body, which was
really too low to make the school
economically viable." And build he
did! In the spring of 1964, there
were 221 students enrolled in The
American Institute for Foreign
Trade. Eighteen years later, in the
spring of 1982, student enrollment
had reached 1,084. It is here, in
THUNDERBIRD WINTER 1982
generating interest in AGSIM
among potential T-Birds, that
Gulick sees his greatest personal
achievement. Though he modestly
states, "I don't think I have
achieved anything alone," and
stresses the help he has received
from his assistant and new Dean,
John James Arthur, as well as from
President Voris and many faculty
members, he admits, "My greatest
contribution was the creation of a
body of Alumni Educational
Counselors to carry the
preponderating share of the
recruitment burden." This program
of alumni counselors located
throughout the world to serve as
information resources, was initiated
by Dr. Gulick in January 1965, and
has continued to meet with great
success. In addition to the total
student population increasing by
four times its 1964 size, the number
of women has increased from five
to 374, and the foreign students
from 13 to 274.
Dr. Gulick also sees changes in
the quality of the school offerings
over the years. When he became
Dean, the curriculum offered only
one course in management, as
compared with the wide variety of
courses now taught by the World
Business Department. The major
emphasis of the school was on
Latin American Studies. There were
no classes in German, Japanese,
Chinese or Arabic. Dr. Gulick
himself introduced the first course
on the Middle East, which he and a
political science professor from
Arizona State University taught in a
team approach. He was also a
strong supporter of the summer
session and of Winterim, which he
believes has become a very
important showcase offering many
programs not available elsewhere,
like International Agribusiness and
International Insurance and Risk
Management.
As to the future, regarding the
school enrollment policy, Dr.
Gulick projects, "I think that it's
quite all right to remain somewhere
around our present level. But I
think that the way to enrich the
curriculum is to encourage Arizona
State University to offer courses on
this campus and to permit our
students to receive a maximum of
nine hours of relevant credit as
compared with the present three."
THUNDERBIRD WINTER 1982
On a more personal level, Dr.
Gulick is interested in pursuing
some ideas concerning the
importation/exportation of new
products, many of which are in the
food line, as well as possibly
continuing on at AGSIM in a
part-time professor/advisor
capacity. He is also currently
involved in real estate in California
and Arizona, and serves on the
Board of Directors of the Glendale
Community Council, activities
which he intends to continue. On
the "pro bono publico" side, Dr.
Gulick's ultimate goal is to "do
everything possible to further the
cause of peace in the world." He is
a member of an association of
university professors, with
headquarters in Germany, which is
currently concentrating on this
issue of world peace. It is an issue
of utmost importance to the people
of the world, according to Dr.
Gulick. As a member of the Baha'i
faith, he believes that, "War is the
most preventable of accidents," and
that "the chief duty of every person
is to work for the unity of the
human race."
With a record of great success in
achieving goals set forth both here
at AGSIM and in the other phases
of his life, and with the
humanitarian objective he wishes to
pursue, Dr. Gulick steps down
from his position of Dean of
Admissions, a position he has
fulfilled to the maximum. As he
moves on to other endeavors, he
leaves his successor, quite
ironically, with a very different
challenge from that which he faced.
His achievements in
communicating the AGSIM
experience to future T-Birds has left
the admissions' office with the task
of trying to keep enrollment figures
down, rather than to stimulate
them. This is indeed a tribute to
Dr. Gulick.
Nancy J. Greenberg (Winter '83) is a
graduate of the Pennsylvania State
University ('82). She holds a bachelor's
degree in Advertising from the School
of Journalism there. Her current areas
of emphasis at AGSIM are marketing
and European studies. She also serves
as an assistant in the Communications
Office at AGSIM.
WORLD
AFFAIRS
CONFERENCE:
FOCUS ON THE
MIDDLE EAST
Each year the World Affairs
Conference brings together
well-known leaders of government,
industry, and academia to share
with the students, faculty, local
business people, and the general
public their knowledge and
expertise on an area of the world.
The 1983 World Affairs
Conference entitled "The
Development of the Middle East"
will take place February 17-19 and
will consist of discussion panels on
relevant socio-economic and
political issues affecting Middle
East countries. The eight discussion
topics are: The Role of Islamic Law
in Business, U.S. Foreign Policy,
Business and Political Stability in
the Tri-continental Area, the Role
of Women, Petrodollar Investment,
Banking and Finance in the Middle
East, Agribusiness in the Middle
East, and Modernization and
Development in the Middle East.
Several of the well-known
speakers who will be attending the
conference are: Mr. John Duke
Anthony, board member of the
American Educational Trust and
author of Arab States of the Lower
Gulf; Mr. John Law, former vice
president of Chase Manhattan Bank
and chief correspondent for the
Middle East at U.S. NEWS AND
WORLD REPORT; and Dr. Abu
Lughod, professor of Political
Science at Northwestern University.
Sheikh Zaki Yamani, the oil
minister of Saudi Arabia, is also
tentatively scheduled as a guest
speaker for the conference. The
1983 World Affairs Conference on
the Middle East should be one of
AGSIM's most significant events
offered to students, faculty, and
local business people. All AGSIM
alumni are cordially invited to
participate in the conference. For
more information, write: Dr. Issa
Peters, Faculty Advisor or Philip de
Sousa, Chairman, Box 262, AGSIM,
Glendale, Arizona 85306.
9
NEWS
FMC Chairman Cites
Five New Challenges
in International Trade
In accepting the school's 1982
International Executive of the Year
Award on October 14r FMC
chairman and chief executive
officer, Robert H. Malott, called on
the academic community to help
U.S. business and government find
solutions to five pressing problems
in international trade:
• The growing disrespect for
patents and industrial property
rights in the international
business community,
• The recent escalation of export
credit wars,
• The competition in tax
subsidies for export sales,
• The predatory manipulation of
foreign exchange rates, and
• The increase in non-tariff
barriers, which have prevented
free and fair access to world
markets.
As a key point, Malott
questioned whether the general
agreement on tariffs and trade
(Gatt), established in 1947 to
provide a framework for
international trade negotiations,
was able to handle these tough
new problems. Malott said, "The
issue we must face squarely is this:
Can Gatt handle the realities of
today? Or do we need new, more
comprehensive guidelines on which
to base future international trade?"
Malott elaborated on each of the
five major problem areas as follows:
Regarding industrial property
rights, Malott indicated that many
developing countries are trying to
change the rules of the Paris
Convention on Industrial Property
Rights so they can obtain
immediate and cost-free access to
10
President Voris (right), presents the
International Executive of the Year
Award to Robert Malott at the annual
Board of Trustees' dinner.
developed country technology.
"They have been pressing for
agreements which would allow
them to seize patented technology
and give it to their own domestic
firms if the multi-national company
did not exercise its patent rights
within a set time period-perhaps
as little as 30 months." Malott
indicated that FMC has been
working on legislation to give U.S.
companies greater recourse against
violators of U.S. patent rights.
Recently, credit wars have
escalated among industrial
countries, as they have resorted
increasingly to subsidized financing
packages to stimulate their exports.
Efforts to negotiate gentlemen'S
agreements on export credits have
thus far failed to curb the problem.
As an alternative, Malott proposed
establishing a new international
export credit agency to enforce
common rules on export financing.
Tax subsidies on export sales
have created enormous distortions
to international trade. The
industrial countries are wasting an
enormous amount of time, energy,
and money just to stalemate each
other's export subsidies. Malott
suggested that the industrial
countries devote their efforts
instead to reaching an
understanding on common
standards for export tax relief.
To discourage imports and
encourage exports, governments
have been systematically engaged
in exchange rate manipulation.
"This manipulation is not overt,
but is often hidden in a maze of
capital or financial market
controls," Malott said. To curtail
this, Malott suggested broadening
the scope of the international
monetary fund to include explicit
authority over exchange rate
manipulation. "The fund's member
countries could give the IMF the
power to impose sanctions on any
nations which did not allow their
currencies to move freely in
response to underlying market
forces."
The access of U.S. producers to
foreign markets has been
progressively restricted by such
non-tariff barriers as domestic
safety standards, import licensing
requirements, and local content
rules. "The U.S. represents the
biggest import market in the world
and, by and large, we've made this
great asset available to our trading
partners with relatively few
restrictions," Malott said. "We're a
country that truly believes in open
markets and the free entry of
goods, but our trading partners
must know that we are no longer
willing to tolerate one-way streets."
Malott concluded by saying that
"free access to all markets of the
world must be an unending
objective as we seek guidelines for
international trade."
THUNDERBIRD WINTER 1982
AGSIM Trustee
Honored by Public
Relations Society
Edward M. Carson, president
and chief executive officer of First
Interstate Bank of Arizona was
presented the first PHOENIX
Award for leadership in the field of
public relations. The award,
instituted this year by the Phoenix
Chapter of the Public Relations
Society of America to recognize the
CEO of an organization in Arizona
who has distinguished himself or
herself through the use of public
relations principles, was bestowed
on Carson at an October luncheon
at the Mountain Shadows Resort.
Alumnus Presents
Guide to Mexico City
Stephen M. Ringler ('69), division
vice president, trading operations,
International Multifoods, presents a
copy of his book, Descubra la Ciudad
de Mexico, to Lora Jeanne Wheeler,
AGSIM library. It is the only
reference guide of its kind in
Mexico City. It took two year's of
Steve's free time to research and
write the book, and to date more
than 30,000 copies have been sold.
Illustrations, depicting popular sites
for youngsters throughout Mexico
City, were done by elementary
school children.
This was Steve's first visit to
AGSIM since he graduated and he
combined the book presentation
with some recruiting for his
company.
THUNDERBIRD WINTER 1982
Dr. Frank JackIe, beloved by
thousands of Thunderbirds, died
on Saturday, December 18, 1982;
he was 73 years old. Dr. JackIe
had been a guest at the Class of
1957 Reception on Thursday,
December 16. His devotion to the
school and life-long achievements
as professor, language department
chairman and Dean of Students,
were honored in a memorial
service on Tuesday, December
21st. A fitting permanent
memorial will be determined.
AGSIM Co-ed Wins
Fiesta Bowl Queen
Runner-up
Dawn Cotton, an AGSIM second
semester student, placed second in
the November Fiesta Bowl Queen
competition in Phoenix. She will
attend numerous Fiesta Bowl
events in addition to receiving a
$500 scholarship, a watch and a
number of formal outfits.
INTERCOM
Fourteen middle management
executives graduated from their
eight-month Intercom program on
October 15. The exercises were held
at the Camelback Inn and Dr. Dale
Beck Furnish, professor of law,
Armstrong College of Law, Arizona
State University, and assistant
director of the International Legal
Center, Santigo, Chile, was the
featured speaker.
w. B. Chair in
Agribusiness
Established
The Prince Charitable Trusts,
Chicago, Illinois, has awarded the
school a grant of $200,000 to
establish a professorial chair of
Agribusiness in the World Business
Department.
In advising the school of the
award, the Prince Trusts officers
noted that establishing a chair in
Agribusiness to ground AGSIM
graduate students "in the
agricultural environment on a
global scale" is very worthwhile.
This is the second endowed chair
received by AGSIM. A chair in
international insurance was
established recently through a grant
from the C.V. Starr Foundation in
New York.
Believe it or not, the PUB is
undergOing a complete renovation
this winter!!!! Part of the project
entails new wall hangings. The
theme of the new PUB will be
historical-old planes, early
T-birds, etc. If you have any old
pictures or documents relating to
Thunderbird, why don't you share
them on the walls of the PUB? All
pictures accepted will be
acknowledged with a brass plaque
naming the subject and donor. The
PUB, of course, will pay all
enlargement costs. Please help out
and immortalize yourself at the
same time. All submissions can be
sent to the Alumni Office and
returned if clearly marked.
11
On the Move Three T-Birds celebrate
their "moves." Together in Phoenix for
Easter, from the left, Rosalie Johnson (,79),
Anne Bettis ('80) and Jane Dodson ('79).
Rosalie moved from New York to Dallas,
Anne left St. Louis for Phoenix, and Jane
moved from Phoenix to Australia.
Minneapolis-St. Paul A fair-sized group of alums in the Twin-Cities area got
together ill early fall to plan a future T-Bird gathering. ShOWIl, left to right, first row:
Bruce Smith, Steve Brandywine, Cindy Werner, Gail Beske, Bill Jenkins; second row,
Barbara Hams, Kathy Kurttila Shimada, johl1 Hay; third row, Sharon Hoffman, Katie
Lindblad, Blair Bertram, Peter Newmall; back row, Christy Bralldt, and Mark Lindblad.
12
Singapore The class of '81 had a
mini-reunion at the Raffles Hotel. SIWWIl,
from the left, Larry Johnson, with World
Vision; Iggy Kfzomasurya, with Procter and
Gaml1le; Joe O'Oowd, with Salsbury Labs;
and Jim Reilllloldt, Singapore Airlines.
In response to many requests, the
monthly meeting for T-Birds has been
changed to the first Friday of every
month. In addition, we have changed
the venue to: THE SLOAN COURT
HOTEL, 17 BALMORAL ROAD,
SINGAPORE 1025, TEL: 235-3311.
Time is still 5:30 p.m.
Tokyo Thunderbird Alumni
Association President Hiromi Yoshida
writes that the organization has
scheduled four official meetings for the
year and tha t they are preparing an
alumni directory of Thunderbirds in
Japan to be distributed to active
members of the association.
Officers for 1982 are: Hiromi Yoshida
('78), president; Charles Emanuel ('72),
vice president; Masao Komiya (,78),
vice president; and Buzz Trudeau ('78),
vice president.
Seoul, Korea The
Thunderbird-Korea Alumni Association
threw a lively cocktail/dinner party at
the home of Bill Valenti ('74) in Seoul
in May. The association, reorganized in
September 1981, has grown to over 50
members, including foreign residents
in Korea. The success of the May affair
points to more events ahead.
Well deserved kudos go to Jae Suk
Lee ('73), Jung-Kil Kim ('75), both
vice-chairmen of the association, and
Jung Bae Kim ('75) for orchestrating the
party. J.B. Kim is secretary general of
the association. Dr. Ju-SuP Han ('75),
professor at Chungang University is
chairman, and Bill Valenti, executive
vice president of Saehan Merchant
Banking Corp., was appointed
vice-chairman, representing the foreign
contingency in the association. The
goal of the association is to promote
friendly ties among Korean and foreign
T-Birds in Seoul, and to enhance the
image of AGSIM in Asia.
Dallas-Fort Worth The July
"international potluck and pool party"
at Mark and Marlene Gebhardt's drew
about 30 area T-Birds, and a good time
was had by all. There was also a polo
match and ballet doubleheader at the
Willow Bend Polo Club in Plano, Texas
in August, and it was also well
attended.
Washington, D. C. The
Washington, D.C. Chapter of
"Associated Thunderbirds
International," in conjunction with the
Washington Management and Business
Association hosted a "Washington
Update" luncheon on November 1 at
Blackie's House of Beef. The speaker,
Hugh Sidey, contributing editor, TIME
Magazine, presented a special view of
the current political situation and the
elections' relationship to business and
industry.
Brian Marshall, president of the D.C.
chapter, also reports that about 30
T-Birds attended a summer gathering
at the Kelso's and that T-Bird
attendance at the Stanford luncheon
was fair.
THUNDERBIRD WINTER 1982
Chicago Please note the change of
location for the monthly T-Bird
meetings in Chicago. The group meets
the first Tuesday of the month in the
"Pub Room" of King Arthur's Pub, 126
South Wells Street, on the corner of
Wells and Adams at 5:30 p.m. There is
24 hour parking across the street
(under the "L").
A turnout of more than 75 people
made the second annual Crystal Lake
Picnic for Chicago-area T-Birds in
August a great success. They came
from Indiana and Wisconsin as well as
from the Chicago area. Graduating
classes from' 48 to '82 were
represented. Bob Bean (,48), who has
been a valuable and loyal T-Bird to the
Chicago group, will be retiring with his
wife, Alice, to Green Valley, Arizona.
Panama Bill Moore ('79), Michael
Pierce ('68) and Bill Riley ('75)
organized an October Thunderbird
Reunion at the oceanside home of
Phyllis and Thad Chamberlain ('55) in
Panama City. Alums were encouraged
to bring a typical Latin American gift to
be donated to the international auction,
all of which gave the gathering a little
different twist. More than 20 T-Birds
attended.
Mexico City President Alyce Tidball
reports that the Thunderbird Alumni
Association of Mexico held their annual
Chili Cook-off in late spring at the
home of Ken and Hari Foster (both
'74). More than 50 adult T-Birds
attended accompanied by
approximately 15 Baby Birds.
The winners of the Cook-off, selected
from 15 entrants, were:
1st Place - Sheila Keeler (Mrs. Phil '56)
2nd Place - Nancy Karklins (Mrs.
George '73)
3rd Place - Paul Reiss ('60)
The Mexico association holds
breakfast meetings the FIRST
THURSDAY of each month at 8:00 a.m.
at the UNIVERSITY CLUB. Alums
traveling in Mexico, please take note!
Thunderbird Club of New
England Area T-Birds met at
Michael's Waterfront on November 16
to meet and talk with Tom Kidd,
alumni director from the school. Tom
discussed plans for the "worldwide
alumni association" and had a chance
to meet and talk with members of one
of the school's most active alumni
groups.
New York Alumni director Tom
Kidd spread the word about the
"worldwide alumni association" at the
November 19 gathering of New York
T-Birds at the Raw Cream Factory on
Hubert St.
THUNDERBIRD WINTER 1982
Northern California Don' t forget Saudi Arabia The Kingdom-wide
the Thunderbird Roost the first Tuesday
of every month at 5:00 p.m. at
Barnaby'S Embarcadero No.2 in San
Francisco. Take note all you traveling
and visiting T-Birds!
get-together was held in early October
at the home of Heidi and Gene Castle
in Riyadh. T-Birds from Jeddah and Al
Khobar also attended. They included:
The fall picnic for the Northern
California Alumni Association was held
on October 31 at Angel Island. No
report at press time, but we assume a
good turnout!
Cliff Foster, Kate Bloor Baroni, Phil
Blaisdell, John Baroni, Amin Hassan,
Roger Voegele, Bob Abbenzeller, Eric
Schroder, Dean Storm, William Van B.
Robertson, R. Jon Kailey, Greg
Harrison and Ted Giza.
Elections for officers will be held at
the annual Christmas party and we will
report the results in the next edition of
Thunderbird Magazil1e.
,DONDE ESTAN?
ClASS OF 1956
We need your help! If
you know the where­abouts
of these alumni,
please gather the infor­mation
and send it to us
at: The Alumni Office,
American Graduate
School of International
Management, Glendale,
Arizona 85306.
By providing our
office with this infor­mation,
you assist us in
keeping track of the
successes of our
graduates. A list of
unknown alumni will
appear consecutively by
graduation year in
upcoming issues of
"Thunderbird." We're
eager to receive news
about you, your family
or your T-Bird friends
for our Update section,
so please include that
information also.
Muchas Gracias!
Allenbach, Richard J.
Anderson, Elmer R.
Bailey, Robert D.
Blair, Royce C.
Brann, Norman J.
Briggs, Harry T.
Campo, F.J.
Carroll, J.J.
Carson, Warren J.
Cornell, C. M.
Coyle, Robert J.
Crowe, George L.
Drose, John J.
Dunham, Dale G.
Edwards, Nancy
Fambrini, Robert L.
Fox, Robert D.
Gallagher, Jerome J.
Gatterer, Charles F.
Harden, John
Hogan, John J.
Ireland, T.M.
Irwin, Carolyn E.
Jackson, David L.
Karnes, Robert E.
Kimball, W. G.
Kjelstrup, Robert C.
Kohlhoff, Henry W.
Kostich, Norman E.
Larsen, James P.
Leist, Lewis G.
Longwill, Ben L.
Mangum, Hugh J.
Marable, Jess B.
McNamara, Thomas J.
Meehan, Carl B.
Morris, Robert L.
Oakes, George B.
Offner, Francis X.
Pabst, RF.
Proctor, Custis N.
Quinn, Milton
Rockwell, Charles S.
Rosa, Kenneth
Ruby, Edward C.
Salonites, Stephen M.
Schreiber, Stanley J.
Scott, Gene W.
Small,Odis
Stanley, Jack M.
Stewart, Paul
Stokes, Gerald H.
Varty, Robert J.
Ventosa, John J.
Vogt, Milton M.
Wagner, Willard D.
Young, John
Zimmer, Thomas J.
13
ALUMNI
UPDATE
Class of '47 and' 48
Herbert H. Adams ('47) is an international
operations manager with the Graber
Company in Madison, Wi. Raymond R.
Chartraw ('47) is a marketing manager with
the Ohio Rubber Company of Willoughby,
Oh. Ben Cid Novoa, Jr. ('47) has taken a
position as business manager for the TEAM
Electronic Stores in Anchorage, Ak. Robert
B. Moyer ('48) has been transferred from
Goodyear International to the Goodyear
Tire and Rubber Company as manager of
dealer relations in Ohio. Allen P. Terho
('48) is director of Eastman Kodak's
Administration and Support-Marketing
Education Center in International
Photographic Operations in New York.
14
Class of '49 and '50
Lloyd Clark, ('49), founder of the Council
on Abandoned Military Posts is instructing
a course on this topic at the Rio Salado
Community College in Sun City, Az.
George S. Malcom ('50) is a broker-associate
with Florida Trend Properties, Inc. in Ft.
Lauderdale, Fl. Duane Mowry ('50) is a
finance staff assistant with the Hughes
Aircraft Company in Los Angeles. Roy L.
(Tom) Osborn ('50) is president of Osborn
Products, Inc. of Phoenix, specializing in
industrial products. Peter Scott ('50) has
been elected chief executive officer of
consumer goods and building materials
with the Di Giorgio Corporation of San
Francisco.
Class of '51 and '52
Lyle E. Bricker ('51) has been transferred
from Goodyear International to Goodyear
Tire and Rubber Company as manager of
off-shore insurance in Akron, Oh. Sterling
W. Kelley, Jr. ('51) has been named
president of Arneson Products, Inc. of
California. John P. Snyder ('51) is a
semi-retired investments manager in
Laguna Niguel, Ca. Brayton Lincoln ('52)
has established his own advertising/
promotion company operating on a contract
basis in South Dartmouth, Ma. Samuel
Schulman ('52) is the owner of the S & J
Company in Irvine, Ca.
Class of '53
Eugene F. Benz is a programmer analyst
with the Auto Club of Southern California.
Robert M. Cooney is business manager and
vice president of the consumer banking
division for Citibank, N.A. in Panama.
Thomas B. Hitchcock has been named vice
president with Citibank of New York in
their insurance industries department,
where he has global coordination
responsibilities as well as domestic clients.
Tom joined with Citibank upon graduation
and has been with them for 29 years. He
and his wife, Mary (Wrinch)-also '53) reside
in Stamford, Ct. Alan L. Ockene is in
Belgium where he is vice president with the
Goodyear International Corporation in their
European division. Philip W. Sweany has
taken a position as marketing technical
support director of International
Photographic Operations with
Eastman-Kodak in New York. Henry L.
Woodward has left Tanner Precast and is
now working for Sergins, Hoskins, and
Beckwith in Phoenix.
Class of '54
In July, the alumni office received a
delightful letter from Mark A. Antinucci
and his wife, Lois, in the form of an early
Christmas card, with apologies for the
holidays gone by without word of their
whereabouts. Mark and Lois are living in
Rome, where he has his own business and
she is heading the English department of a
private school. Mark writes that his
children, all nine of them, are doing well in
their various activities, and that he and Lois
are enjoying the cultural masterpieces and
the warmth that Rome has to offer. Bill
Banning is a sales and export manager of
Hamilton-Ditmore, Inc., a fireplace
equipment company of Costa Mesa, Ca. He
writes that he still has fond memories of
"such things as cows in swimming pools
and Mr. Finney's unending need for
copious quantities of Cannon towels."
George E. Hale has left Property Investors
Co. , where he was a partner, to become a
self-employed realtor in Pasadena, Ca.
Joseph A. Kraynick has been named .
national sales manager for RBP ChemIcal
Corporation, manufacturer of lithographic
plates and chemicals in Milwaukee, Wi.
Charles A. Whitcomb has been elected
president of Intercontinental Bank in Miami.
He was formerly with Chase Manhattan
Bank in Puerto Rico.
Class of '55
Tom Nay is with ShearsoniAmerican
Express in Orlando, Fla. , where he is.
working in investments. R.K. Pooler IS the
president and John A. Santana ('71) is the
vice president of International Marine Fuels
of San Francisco, Inc., an affiliate of the San
Francisco Petroleum Co. The firm was
started by the two T-Birds for the purpose
of supplying domestic and international
vessel bankers. George Rainoff is vice
president and administrator of international
operations with Johnson & Higgins of New
York and is residing in Mahwah, NJ. John
M. Viborel is a corporate direc.tor with S.c.
Johnson and Son of France.
Class of '56
Robert Churidis has opened P.]. Chemicals
Inc. in Santa Fe Springs, Ca. After retiring
from the Goodyear Corporation in Akron,
Paul Delaney has returned to his
hometown of Clyde, Tx. where he is now a
freelance writer. Peter J. Roman, who
received his BFT in '56 and returned to
AGSIM for his MIM in ' 69, is now a
production manager with Levi Strauss
Eximco at the World Trade Center in
Geneva. Charles M. Stockholm has been
named senior executive vice president for a
new banking group of Crocker National
Bank, a San Francisco based bank which is
owned in part by Midland Bank Ltd. of
London. His division is devoted to
wholesale domestic corporate and
international business.
Class of '57 and '58
Alexander Boggio ('57) is an associate of
Patterson & Floyd, Inc., an agricultural
commodities broker supplying ingredients
to feed, soap and chemical industries.
William Bortoff ('57) and his wife, Laura,
are living in Mexico where he is with Lance,
S.A. Giles A. Doyle ('57) is with GTE
International in Computerized Restaurant
Systems. He is residing in Anaheim, Ca.
Robert A. Egly ('57) is the president of SRW
Computer Component Co. of California.
Francisco Gaitan ('57) is a general manager
with the Revlon Overseas Corporation C.A.
in Caracas. Cruz R. Mora ('57) is a deputy
probation officer for Los Angeles County,
soon to be returning to engineering in
Australia with TRW. Timothy S. Reed ('57)
THUNDERBIRD WINTER 1982
Darryl J. Petersen '62 John Zeibarth '62
THUNDERBIRD WINTER 1982
has been promoted to relationship banker
for Citibank in San Juan, Puerto Rico,
where he also serves on the board of
governors and as treasurer of the United
Fund. James M. Stothers ('57) has left
Koppel Inc. to join AGREX Corp. of
California as treasurer for the company.
William Sigal('58) is in Paris working for
the Globesan Newsletter. Cleo E. Wall ('58) is
the president of HUB International in
Houston.
Class of '59
James P. Bonner, Jr. is still working as
export director with Roberts Consolidated
Industries. His job requires frequent travel
to the Far East and Latin America. Richard
E. Crumb is corporate vice president with
Bank of America in New York. Dr. Richard
L. Cummings has accepted the position of
academic dean and professor of
international and intercultural studies at
International University - Europe in
London. Bart L. Hartzell and his wife,
Lynn, have moved to Sydney, Australia,
where he has been transferred with Boeing,
after spending 31/2 years in Europe with this
company. William H. Holtsnider has been
named vice president of corporate internal
development with the Gillette Company in
Boston, Mass. William G. Hoover is sales
manager and marketing association vice
president with Goodyear International in
Akron, Oh. Jack H. Matkin has been
named president of Rainbow Knit and
Sportswear of North Carolina. Richard O.
Snyder has retired from the Bureau of
Public Assistance and is residing in
Claremont, Ca. Paul Wayne Wright is the
executive vice president and chief operating
officer of the Abu Dhabi International Bank
(ADIB), a Washington D.C. subsidiary of
the National Bank of Abu Dhabi of the
Middle East.
Class of '60
Cesar J. Balmaseda has been named vice
president of export sales for the world tire
group with the Firestone Tire and Rubber
Company in Akron, Oh. He has been with
Firestone 21 years and has served in various
sales jobs in both domestic and
international operations, including assistant
to the vice president for Latin American
operations and manager of marketing for
Europe. Roberto Castillo has left Smithkline
Corp. to join Coulter Electronics, in Florida,
as an export director. Jack E. Donnelly's
appointment as president of GTE Business
Communications Systems Inc. was written
up in the May 13, 1982 issue of the Wall
Street Journal. Jack, who was formerly the
managing director and chief executive
officer of Plessey Office Systems Ltd., now
heads this newly designed unit of the
Stamford, Ct. based GTE Communications
Products Group which will serve the
emerging telecommunications markets
created by government deregulation.
Valerie (Tognazzinil Kieser is a corporate
secretary for Diamond T Land and Cattle
Company of Oakland, Ca., a family
company in which she and her husband
John ('60) are becoming more active, in
addition to his work at Kaiser Aluminum
and Chemical Corp. Jack A. Kruppenbach
has moved to Lancaster, Tx. where he is
employed with Energy Analysts Inc. Chad
Leidy has decided, after years abroad, to
come home to Lafayette, Ca where he is a
manager with Travel Center, a California
based agency. Vernon K. Meyer and his
wife Lois are the owners of Newspaper
Promotional Services of Redding, Ca., a
business which requires them to travel
throughout the Northwest USA, publishing
special pages and sections for a variety of
newspapers and shoppers.
Class of '61
Robert E. Barnes has been named executive
vice president for Bank of the West in San
Francisco. Paul D. Black is the president of
Industrial West in Newport Beach, Ca.
Burton Allan Lazar is the president of
Resource Industries Corp. in Chicago. Dr.
Joseph N. Weatherby Jr., a professor of
political science at the California Polytechnic
State University, was elected by the
statewide academic senate of the California
State University to serve as Secretary of the
Executive Committee of the Senate. This is
one among many honors Weatherby has
been awarded by the university. He has
also been nominated for the systemwide
CSM outstanding professor award and has
received several fellowships in the past.
Class of '62
Jack S. Beldon is vice president and general
manager with the Goodyear International
Corporation in Peru. Dr. Carlos E. Cortes is
chairman, Department of History,
University of California, Riverside and was
named a member of the California Council
for the Humanities. He also served as guest
host on the PBS program, "Why in the
World?" and serves on the National
Advisory Committee for that nationally
televised series. Richard E. Hayes is a
director with the Sirrine Corp. of Campinas,
Brazil. Curtiss KIus is a field sales manager
with the Whirlpool Corp. in Stevensville,
Mi. Kevin F. McMahon is vice president of
First Virginia Bank Roanoke West in Salem,
Va., responsible for the regional trust
department in southwest Virginia. George
A. Mendenhall is the president of
Paramount Export Co., a food exporting
firm of Oakland. He is living in Sunriver,
Or. with his wife, Katherine. Charles E.
Niemann has been promoted to manager of
Vintage World Travel in Modesto, Ca.
Walter F. Patterson's new position as sales
manager for the Faultless Company was
brought to the attention of the alumni
department when his name and photo
appeared in an article about the Cologne
Hardware Fair in the July/August issue of
Export magazine. Darryl J. Petersen is the
president of Strategic Career Services, a
career consulting firm based in Lafayette,
Ca. Wallis R. Sanborn is a regional
marketing manager with Kawasaki Loaders,
Inc. in Austin, Tx. B. Paul Smith is general
manager with Banco Andino in El Dorado,
Panama. John Ziebarth has been promoted
to group vice president with American
White Cross Laboratories, Inc. of New
Rochelle, NY.
15
Dan L. Henderson '63 Brian Reilly '66
Peter Feddersen '67 Dean Hendricks '67
Larry K. Mellinger '68 Ralph B. Hurlbutt '69
Sharon K. Taylor '69 John P. Kingman 70
Dwan L. Shipley 70
16
Class of '63
James B. Catlett, Jr. is a partner in the
Sunburst Energy Company, oil producers,
in San Antonio. Robert J. Gehl is president
of Tempotech Industries, Inc. in Hart, Mi.
Dan Henderson, senior product manager of
the recently-formed Sears Roebuck Trading
Co., Chicago, visited campus in September
for the first time since he graduated. He
related that after a short time with B.F.
Goodrich, he joined Sears and looked
forward to an overseas assignment after
"domestic training," which has lasted for 19
years. One thing about the physical
appearance of AGSIM caught Dan's
eye--"haJf the swimming pool is gone."
Don Hellbusch has formed his own
corporation in California after holding some
very good export positions with Magnavox
and most recently, with a subsidiary of
Bristol-Myers. Bradford E. Romine is an
owner of Dawson, Judson, Romine and
Associates, Inc., a manufacturer's
representative company in Ohio. Robert E.
Williamson has taken a new position as
product/market specialist in the export
branch of John Deere Intercontinental Ltd.
Class of '64
Peter B. Blackford is managing director
with the Goodyear International Corp. in
Australia. Allen F. Drachman is a salesman
with SATTLERS, a kitchen remodel
designer in Concord, Ca. Murray H.
Hutchinson is chairman and CEO of the IT
Corporation in California. John R. Jagoe has
been named vice president of sales and
marketing with Aeration Industries of
Chaska, Mn. His company, specializing in
water pollution equipment, is rapidly
expanding in international sales. James B.
Kelly is a manager of international sales for
the Davy McKee Corp. of Cleveland, Oh.
Richard Kithil, Jr. is the owner of the
Service Company, a small franchise
organization in home repairs. He and his
wife, Linda, live in Boulder, Co.
Class of '65
Robertson Gaylor is living in Paris where
he is with ERCA. Donald B. Gillespie is
assistant to the promotion director for
Goodyear International in Mexico. Jamie T.
Irvine is an assistant vice president of
Corroon & Black, Co. of New York, an
insurance brokerage firm. Ken Palmer,
written up in Living magazine'S fall 1980
issue as their "Executive on the Move," is
deputy manager for Crocker Bank's Los
Angeles International Office. Throughout
his international banking career, Ken has
had various assignments in Costa Rica,
Singapore, Nigeria and New York, as well
as his current position in Los Angeles.
George F. Thomas III is a project
accounting coordinator with Saudi Arabian
Parsons Ltd. in Jeddah.
Class of '66
Leavitt B. Ahrens, Jr. has transferred from
Rio de Janeiro to Hong Kong with Blue Bell,
Inc. as director, Asia for Wrangler Jeans.
Edward M. Baltrusaitis is a sales manager
with Vanderbilt Export Corporation of S.
Norwalk, Ct. He writes, "Sold my house
and moved on board my 36 foot ketch.
Winters are a bit cold in Connecticut but it's
an interesting way to live." Vincent D.
Cater has been named senior vice president
of Citizens & Southern National Bank in
Atlanta, Ga. Edward Cline is with the
Oceanic Contracting Company in Dubai,
UAE. Albro (Dick) Daniel is the vice
president of sales and marketing with the
Ford Meter Box Company, manufacturer of
valves and fittings. He and his wife, Linda,
and two sons, Albro Jr. (15) and Craig (13),
are residing in Wabash, In. where Linda
teaches learning disabled elementary
children. T.S. Fletcher is assistant vice
president with L.F. Rothchild, Unterberg,
and Tocobin in San Francisco. James H.
Koessler owns an investment firm in
Billings, Mt. Alford B. Johnson has been
promoted to district sales manager for
ARMCO, International of illinois. Charles
Meech is managing director of the London
Northwestern Bank. Reese Moyers is with
World BankIDominican Republic in
Washington, D.C. Brian Reilly has been
named vice president of International
Development at Jostens, Inc. , a
Minneapolis-based manufacturer of
custom-designed recognition products.
Brian was the international marketing
manager at ARMCO, Inc. prior to accepting
his new position. H. Clifford Rudisill II
and partner bought the Village Inn, a 27
room hotel, built in 1771, in January. The
Inn, located in Lenox, Ma. , also has a
restaurant and two bars--he welcomes
T-Birds with a 20% discount! Joseph E.
Thompson has been transferred to London
as the vice president and senior European
representative for Southeast Bank, NA. His
position entails extensive traveling in
Western Europe to facilitate customer and
investor relationships for the bank
throughout Florida.
Class of '67
Timothy J. Bloom graduated from law
school in 1981 and is currently awaiting the
results of his bar exam in Sacramento, Ca.
Richard Brotzman is vice president with
Hallmark Cards in Mexico. John L.
Campbell owns the Pacific Outpost Sales
and Export Company of Kaihia, Hi. , where
he resides with his wife, Carol. Richard
Dueringer is the assistant vice
presidentibranch office manager at E.F.
Hutton of Michigan. Robert E. Duncan is
vice president and treasurer of the Grove
Manufacturing Company in Shady Grove,
Pa. William C. Dyer is manager of the
Latin American division of Connell Bros.
Co. in San Francisco. Peter Feddersen has
moved from Thailand to Australia with the
Continental Overseas Corporation as
general manager of AustralialNew Zealand
operations. He is living in Sydney with his
wife, Hilary Garret, and two sons, 8 and 10
years old. William R. Gilson is a manager
of real estate development with the
THUNDERBIRD WINTER 1982
Wickland Oil Co. in California. Dean
Henricks has been named vice president
and central region manager for
ContiCommodity Services, a subsidiary of
~ontin:nt~l Grain Company. The company
1~ a m~Jor m~ernational futures brokerage
firm w1th offices in the US, Canada,
England, West Germany, The Netherlands
and South America. Richard J. Matchette
~as s.tart~d his own import-export business
~ .MIa~, FL Ed~ard H. Reading, Jr. is
livmg Wlth his wife, Marie, in Akron where
he is vice president and general manager of
1M-EX International Inc. Jennings Rowland
is .a marketing manager of hose products
Wlth Goodyear International USA of Akron
Ohio. He is living in Clinton with his wife'
Teresa Marie. Kent Swisher is the princip;l
of All American Racers and Gimey
International in Corona Del Mar, Ca.
Class of '68
Richard Austin is a partner in a San
Franciso and Nevada consulting firm,
Research Applications Inc., as well as
running a cattle ranch and a children's
school in Baker, Nv. William C. Brown is a
vice ~resident and general manager of the
Amencan Express International Banking
Corporation in Seoul, South Korea. William
Deleon is a partner in International
Commodities, Inc., a new company
concern~d ~ith the export-trading of
electromcs, llon, steel, and aluminum in
Chadds Ford, Pa. John W. Dickinson, Jr. is
a semor sales representative for Firestone
Tires in Lima, Peru, where he is residing
with .his wife, ~hri~tine Rae. Larry K.
Melhnger, semor Vlce president of Union
Bank, Los Angeles, has been promoted to
manager of the international banking
department. Union Bank is a wholly owned
subsidiary of the Standard Chartered Bank
G.roup, he~dquartered in London. Rudolph
Pma 1S an lffiport supervisor with William
F. Joffroy Inc., a custom house brokerage
firm in Nogales, Az. Robert W. Repsher
has been promoted from his current
assignment in Chicago to national
merchandise manager with Sears Roebuck
de Venezuela. He is living with his wife
and daughter in Caracas. I.R. Sanchez is
with the Central National Bank of Cleveland
in Ne~ York. J.im S~runk is a sales manager
for Latin Amenca w1th the Electronics
Corporation of America in Cambridge, Ma.
Voldemars Stukuls has resigned from
European P.aper and Fibre Corp. to establish ys Internahonal, Inc., an export corporation
m th.e Boston suburbs. Timothy F.
Tornngton has left the Wilbur-Ellis Co. to
join the Atlapac Trading Co. in Long Beach,
Ca. Montr~ville B. Walker is a marketing
manager w1th Eastman Kodak in Singapore.
Class of '69
James P. Blaisdell is assistant vice president
of Wells Fargo, agribusiness department in
Modesto, Ca. James Brokken has been
promoted to senior vice president with
Manufacturers Hanover Trust of New York.
Marshall E. Bryan is an assistant to the
sales director for Goodyear International
Corporation in West Germany. Robert A.
Dellork is now teaching at Rancho-Starbuck
Jr. High School and is still living in Santa
THUNDERBIRD WINTER 1982
~a, Ca. Christian Demaret is treaty
remsurance manager with INA Reinsurance
~o.mpan'y of .Pari~. E. Stephen Duggan is
livmg w1th h1S wife, Anni, and two
daughters, ages 9 and 11, in Corsica, where
he is the director of his own viticulture
b~siness. Eric B. Fable is the president of
Au Express World Inc., an international
trade brokerage firm, in Scottsdale, Az.
John Girton is with AIU in Paris. Ralph B.
Hurlbutt was transferred from the New
York branch of Mellon Bank to the London
branch where he was made manager and
senior vice president in charge of Europe
and the Middle East. G. Johns has been
promoted to vice president for American
Express International of Bangladesh. James
A. Klein is vice president of Polymax
International in Houston. John R. Knorr is
a school psych?logist for the Traverse Bay
Area Intermed1ate School District in
Traverse City, Mi. Wesley A. Kruse is
self~eI?ployed with Kruse Realty in
~ttier, ~a. Graham Lowe is program
duector w1th the Franklin Mint Corporation
in Newtown Square, Pa. C. Allen McDevitt
is a broker/trader for Allwood Industries.
Inc. in Portland, Or. Stephen L. Novkov
has been appointed general manager of
AFIA's Japan operations. Before his
promotion he was general manager for the
Hong Kong operation and his assignments
have also included Guam, Tokyo and
Bangkok. Robert R. Placht is a field office
manager with Raymond International
Builders of Houston, Tx. John C. Polhemus
is managing director of Goodyear
Inte~atio~al in the Philippines. Didier
Polhsard 1S a sales manager with BP
International in DualaiCameroon, Africa.
Joe Restno is a self-employed entertainer
whose .rece~t appearances include spots on
two p=e time television dramas, Hill Street
Blues and The FBI. Stephen Ringler has
bee~ pro~oted to division vice president of
tradmg Wlth International Multifood, Inc. in
Minneapolis, Mn. He visited campus in
v1CA International Corporation of
Ch.at~anooga, Tn. A.ustin M. Seay is in a
tra10mg program w1th Tidewater Marine
Service in Los Angeles. Kenneth E.
Shetterley owns the Durham-Western
Corporation, an export brokerage firm in
Durham, Or. Dwan L. Shipley is interning
as an associate pastor with the United
Methodist Church in Lander, Wy. lawrence
W. Stater is living in Santa Rosa, Ca. where
he is employed as a stock broker for Paine
Webber. Michael H. Summers is division
17
manager and partner of Colbaugh & Son, a
turquoise dealer in Kingman, Az. William
C. Walker has been promoted to vice
president with Northern Trust of Chicago.
John M. Werner has been promoted to
general manager with the H.J. Heinz Co. in
Miami, FI.
Class of '71
Robert W. Adams is a sales engineer for E.
1. DuPont de Nemours and is living in
Mesa, Az. Robert F. Ainslie, Jr. has left
Sears Roebuck and Co. to start his own
firm, Ainslie and Associates in California.
Gerald L. Anderson is self-employed in
connection with a radiator shop in Southern
California . William H. Coughlin is residing
in Phoenix and working for the City of
Tempe. John D. Daughenbaugh has been
named vice president and general manager
of the First Interstate Bank of California's
Taipei operation. Jeffrey D. Davis has been
promoted to export manager with the
Paramount Export Co. of California .
Thomas E. Dent is teaching for the
Department of Education in Agana, Guam.
Kenneth J. Hernandez is in Houston where
he is working as a senior sales
Gene Mansfield 71 Ed C. Auble 7 2
Robert f. Sherr, Jr. 72 Kenn G. Morris 73
Wylie D. Barnett 7 5
18
representa tive for ST ALLA VAL, Inc., a
company specializing in industrial products
for oil and gas. Warren W. Herrbott is an
accounts receivable manager with
Honeywell Computers of Phoenix. George
W. Howard III is a regional manager,
JapaniKorea, with AFIA in Tokyo. Jeffrey
B. Johnson, a desk officer for the U.S.
Department of Commerce in India, was a
member of the U.S. delegation to Indo-U.S.
Economic-Commercial Sub-division in New
Delhi in February '82. David W. Josephson
has been named vice president of the Union
Bank of Los Angeles. He is in the
international banking division. William T.
Kelley, Jr. has left Cavitron Inc. to jOin TKB
International as vice president of marketing
in Newport Beach, Ca. Martin Lakacinski
has moved from Houston to Fresno, Ca. to
start his own manufacturing business, Gulf
Protein Company. Eugene Mansfield was
appointed CPhA legislative director on
April 20, 1981. He has also served as chief
administrative officer of the Joint Committee
on Rules of the California Legislature, as
well as deputy administrative officer of the
Assembly Rules Committee. Peter C.
Matthews has been named president and
dealer for Matthews Chevrolet Co. Prior to
June, 1982, when his father stepped down
as president, Peter was vice president and
general manager of the agency. Joseph T.
Miller is a management and organizational
development specialist with the Bahrain
Petroleum Company in Awali. John N.
Piznak is a director with American Express
mc, Travel Service in Frankfurt. Leith A.
Swanson is the managing director at
K-Comp Inc. , a micro-computer company of
Glendale, Ca. William L. Telling is a group
product director with Brown and
Williamson Tobacco of Louisville, Ky.
Class of '72
John A. Allred has been named vice
president in the international division of
Union Bank in Los Angeles. He and his
wife, Barbara, are living in San Pedro, Ca.
John left the position of second vice
president at Chase Manhattan Bank in
Bogota, Colombia to join with Union Bank.
John C. Anderson has been promoted to
director of international marketing and sales
with Binny and Smith in Pennsylvania. Kris
W. Anderson has moved into the
advertising business with MayfPartners, Inc.
of Seattle. He writes, "In December, 1972
our Inter-Ad team took first place for
Pampers DiaperslEngland. It's only taken 11
years to finally get into the agency side as a
partner." Ed Auble has left AIG after 10
years plus and is now group insurance
manager for Alden-Levine Associates in
Valley Forge, Pa. He says, " .. . after 10
moves from 1972 to 80, we're ready to stop
rambling. We'd love to get involved with
T-Birds in the Philadelphia area." Spouse
Bonnie will finish physician's assistant
program at Hahnemann Medical Center in
Philadelphia in June '83. Dario Benedetti is
a technical services manager with Getz Co.
and is residing in Burlingame, Ca. D. Bruce
Blankenship, vice president and secretary
of Blankenship Development Inc., real
estate and investments, has been appointed
to the board of directors for Bank of the
West in Lubbock, Tx. Christopher L.
Chesser has resigned as vice president in
charge of production at Filmways, to enter
into independent production. He is
presently producing a theatrical feature in
London and Mexico. Vincente F. Coronado
is assistant superintendent with Cargill, Inc.
of Tampa, Fl. James D. Daniels has been
elected vice president of Rubenstein,
Wolfson and Co., a New York based public
relations firm, handling such clients as
Ernst and Whinney; Johnson and Higgins
and L.F. Rothschild. Selden M. Daniels has
left Northern Air Freight to join Spectrum
Logistics Corp. as director of operations.
John F. Duffer is a vice president and
general sales manager for Pepsi-Cola
Bottling Co. in Raleigh, NC. Gregory W.
Duffin has been appointed general manager
for AFIA's Hong Kong operation . He has
had previous assignments in the Virgin
Islands, Brazil, the Bahamas and Singapore.
Michael Gardiner has been transferred to
Singapore with Hertz International.
Mathewson (Mat) B. Green is vice
president with Russell Reynolds Associates,
Inc., executive recruiting consultants, in
London. Gary L. Hogenson has moved
with A.P. Green Refractories' Latin
American headquarters to Santo Domingo.
Richard W. King is an export manager with
Kent International in San Francisco. Edward
S. Lucas Jr. is in Greece where he is
production director with Goodyear
International. Stephen H. Mahood is a high
school teacher of accounting and economics
in Washington, D.C. Gerald P. O'Brien is
an area manager with Surgicot-Squibb of
Smithtown, NY. Dennis J. Orio is an
insurance underwriter with Chubb & Son of
Short Hills, NJ. Since October, 1981, he has
been Chubb International's home/foreign
manager, responsible for activities of the
international division in the US and
Canada. John D. Prudden is senior vice
president with Commonwealth Leasing
Corporation in Michigan. James F. Rehnnan
is working for Weyerhaeuser Co. of Seattle,
Wa. in new business development. James
Rice is vice president with the First
National Bank of Minneapolis. Jeffrey T.
Ruby is regional managerlLatin America
with FMC-Elgin Leach International Inc. in
lllinois. William D. Rye has opened his
own store, The Soccer Place, and is
involved in junior soccer leagues in
Franklin, Tn. Robert J. Sherr, Jr. is the
director of marketing for the Arizona State
Lottery and is currently serving as president
of the Phoenix Businessmen's Association.
Henry S. Slesinger is with Slesinger,
Yaranoff and Associates Advertising in
Phoenix. Gary E. Smith owns and operates
the G & M Company, a textile/garment
business in Buchana, Mi. Robert M. Walker
is an international credit officer with the
United Bank of Arizona and is residing in
Phoenix. Craig E. Wanamaker has been
named vice president of Centeer Bank of
Kansas City, Ne.
Class of '73
Paul Bergman is an international trade
specialist with the US Department of
Commerce in Denver, Co. Randall Bishop
and his wife, Lori Abell, ('74) are partners
in AROS, an investment management and
financial planning firm . They have done
THUNDERBIRD WINTER 1982
projects for a film targeted at multi-million
dollar investment in Indonesia, and have
also picked up their first multi-million dollar
investment analysis project involving
holdings in Paris, New York and Los
Angeles. Randall also took the California
bar exam in July, 1981. R.J. Davis is a vice
president with Multinational Energy. He is
living in Irving, Tx. Martin A. Feigenbaum
is with the Marvitec Export Corp. of Miami,
FI. Stephen W. Graeber has left
Metropolitan Life Insurance to join the CNA
Insurance Co. of California. Timothy J.
Holden has joined Union Bank's Century
City regional office as assistant vice
president in the priority banking
department. Willard B. Hunter has been
named senior marketing research analyst
with Dow Chemical USA, assuming
marketing responsibilities and new product
positioning diversification duties aimed at
both the STYRON polystyrene resins and
copolymers/styrenic specialties marketing
groups. Robert A. Luzar is the owner of
RE.W., a land development, construction
and investment company in Scottsdale, Az.
Ronald E. MacDonald is the
director-Asia/Pacific with the Greyhound
Leasing and Financial Corporation in
Tokyo. Thomas A. Monroe is international
sales manager for the Fluid Control Division
of the FMC Corp., an oil tool manufacturing
company of Houston, Tx. He lives with his
wife, Marguerite, in Woodlands, Tx. Kenn
G. Morris has joined Callan Data Systems
of Westlake Village, Ca. as director of
marketing communications. David S.
Morsky is a transportation analyst for
Eastman Kodak in New York. Ronald
Nicosia is an administrative contracting
officer with the US Department of Defense,
employed as a speCialist administering
commercial, government to government and
NATO contracts for the US Navy. Gerard
V. Perez is the president of Fine Art
Resources, Inc. of Chicago. Roxanne (Juni)
Skawin is a regional manager of product
financing with MacDonald Douglas Finance
Corp. of California. David Talbot has
started Promotional Planning Inc., a
meeting and convention company in
Longhorne, Pa. Jesse G. Wilson is vice
president of marketing-services for
Elmerhurst Management Service. Thomas
e. Woodruff has been made a vice
president of Bank of America in San
Francisco.
Class of '74
Robert Bauchman has been promoted to
vice president with Northern Trust of
Chicago. Roger Bildsten has been promoted
to assistant vice president with the First
National Bank of Chicago. Avinder S.
Bindra has been transferred to Singapore as
vice president of Asia Pacific Capital Corp.,
LTD, the merchant banking arm of Citicorp
in the Asia/Pacific region. Patrice Boyer has
moved to Sydney, Australia where he is a
managing director with Nordson Australia,
a firm specializing in paint spraying and
adhesive application equipment. Richard
W. Buck is a sales representative with the
Calgon Corp. in Garland, Tx. Bryan P. Fay
is a trust business development officer with
the Capital Bank and Trust Co. of
Louisiana. He is living in Baton Rouge with
THUNDERBIRD WINTER 1982
his wife, Kathy. Stanley Gavin is an
assistant driller with the Santa Fe Drilling
Company of California. He is currently
working in eastern Venezuela and
anticipates transferring to Qatar or Bahrain.
James J. Gilligan is an international sales
manager with the CarboLine Company,
industrial coatings/fireproofing specialists,
of St. Louis, Mo. Robert e. Grant is
national account manager with AT&T of
Laguna Hills, Ca. He writes, "It's not bad
working for the largest corporation in the
world." Paul E. Larson and his wife, Pat,
are living in Dohe, Qatar where he is the
manager of Circle Freight. He is anxious to
hear from any T-Birds in the Middle East.
John e. Melarkey is an auditor with the
First Interstate Bank of Nevada in Reno.
Won K. Pak is with E. J. Paxon & Co., Inc.
of New York. Robert G. Quinn is an
international banking officer with the Wells
Fargo Bank of San Francisco. David L.
Sandel is marketing operations manager
with Cooper Energies Services International
Inc. in Jakarta, Selatan, Indonesia. Greg
Wood is assistant sales manager with
Landstar Homes International in Florida.
Russell P. Wood is a brand manager with
Pepsi-Cola Bottling Co. of Alaska, Inc.
Class of '75
Mark W. Anderson is a regional marketing
manager with Hershey International Ltd., a
subsidiary of Hershey Foods Corp. in
Pennsylvania. Mark Anderton has left
Sygnetics to accept a position with Tandem
Computer~ in California. S. Robert August
has joined Stuart R. Scott and Associates,
Inc., a full service commercial and
residential real estate concern in Colorado
Springs, as vice president of marketing and
sales. Wylie D. Barnett has been promoted
to principal field manager with the Ford
Motor Company Caribbean Inc. in which he
acts as the liaison between the Ford Motor
Co. and a dealer body in Puerto Rico and
the Caribbean. Brian W. Black is director of
international marketing for Koehring
Excavators of Milwaukee, Wi. Harold Blair
is with the international trade division of
the State of Ohio. Jay P. Boyd has moved
from Athens, Greece to Oxford, England
where he is a district manager for the Grove
International Corporation. He is responsible
for sales in six Mediterranean countries.
Robert C. Burnett is the general manager
with Coflexip UK Ltd. of Scotland. He is
living in Kincardinshire with his wife, Patti.
e. James Conner was promoted to vice
president of Texasgulf Export Corporation
of London and is residing with his wife,
Tricia, in Hampstead, London. John P.
Corral has left Del Mar Avionics to join
IMED International Corporation in Ft.
Lauderdale as a Latin American regional
manager. He tells us, "IMED is using the
AGSIM Placement Center for possible
international candidates upon my request."
Salvatore D' Amato, Jr. was promoted to
district sales manager with Metropolitan
Life Insurance in Worcester, Ma. R. Scott
Dannison is on a five month executive leave
from the Xerox Corp. to help establish the
Los Angeles Trade Development
Corporation, a non-profit public corporation
set up by Mayor Bradley of Los Angeles to
aid small businesses in entering the
exporting field. Scott is serving as manager
of export development. James H. Davis is
an assistant vice president with the Irving
Trust Company uf New York. Alice (Miller)
Dupas is residing in Paris where she is with
APC Management Services. Sally (McKey)
Dry is a business analyst for NL
BaroidlLatin American operations in
Houston where she lives with her husband,
James. Stuart W. Forman has moved to
Merrimack, NH where he is employed as a
compensation manager for Wang
Laboratories. George M. Fronske is an
international coordinator with ITT Courier
and is living in Glendale, Az. Gordon Goad
is the co-owner, vice president and general
manager of Nimbus, Inc., an import-export
business in Las Vegas . Vrej Gregorian is a
manager with VGH Inc. of California and is
living in Glendale, Ca. James e. Harrington
is the senior vice president of RTP, Inc., a
trading corporation of Los Angeles. James
C. Hartenstein is in Chile where he is sales
director for Goodyear International. Dale R.
Jackson is a director of purchasing with the
Continental Grain Company of Chicago.
Christine Laning is a senior computer
designer with Martin Marietta Corp. in
Orlando, FI. Andrew J. Lubin has left
Alchem International to join Burwill (USA)
Inc. in Ft. Wayne, In. Paul Martell is with
BNP in Paris. Patrick H. Martin is a sales
representative with Warner Lambert in
Houston. John R. McArthur is with Deposit
Guaranty National Bank of Jackson, Ms.
Jerry McGuire is residing in Paris and is
employed with Made in France
International Sarosh Mehta has been
promoted to assistant marketing manager
with Kingston International of New York,
after four years in expert operations with
the company. Sarosh writes that she is
" learning the fine art of putting together
projects for as diverse an area as the
Mid-East to Singapore 'the T-Bird way: i.e.,
by doing, and love the challenge." Richard
L. Naughton is a credit controller for Direct
Container Line, a NVOCC based in
Gardena, Ca. Kevin P. O'Donnell has been
promoted to senior vice president for sales
and marketing at HPI (Hospital Pharmacies,
Inc.) in Los Angeles. Adeleke Odutula is a
managing director at Melchemie Nigeria
Limited, a chemical and fertilizer company
in Nigeria. Ken Pickens is an international
accountant with the Western Geophysical
Company in Houston. Marilyn Detjen
Philipp has been a personnel supervisor for
the law firm Hahn, Cazier, Leff of Los
Angeles since April, 1981. Bruce B. Proctor
is vice president of the Taiwan branch of
the Continental Illinois National Bank in
Taipei. Thomas J. Radl and his wife,
Deborah Ann, have moved to Dubai where
he has transferred with Firestone Tire and
Rubber Company as area sales manager. He
is responsible for all activities in the Gulf
States. William F. Rastetter is the director
of Catholic Relief Services in Yaounde,
Cameroon, where he is living with his wife,
Victoria. Carlos A. Roncal is a pricing
analyst for E-Systems Electronics
Communication Inc., ECI Division of
Florida. Thierry Rouvier is residing in
Sevres, France and employed with
Papiethyne in Aubervilliers. Anthony
Salcedo is an advisory security
representative with Wells Fargo Alarm
19
Services of California. Peter B. Sargent is a
vice president in the international division
of the Bay Bank of Boston, N.A. where he
manages the Asian concerns. Deborah A.
Smith has been named director of
marketing and public relations for the
Sporting Clubs, multi-function athletic
facilities located in Denver, Atlanta, and
McLean, Va. Stephen L. Smothers has
accepted a position as international
marketing manager with HCI Chemicals
(USA) Inc. of Houston. He and his wife,
Lynn, are living in Cyprus, Tx. Linda L.
Stack is a director de cuentas with the Leo
Burnett Ad Agency in Venezuela . Roy J.
Stoner is an international marketing
engineer for Latin America and Far East
with Varian Associates of Palo Alto, Ca.
Luis Fernando Talavera is with Talmor and
Co., S.A. in Lima, Peru. Douglas E.
Thompson is a sales manager for Westraco
Corporation, manufacturer of specialty
papers, in New York where he handles the
firm's sales to Africa, Mexico, and the
Orient. Peter M. White has been promoted
to regional sales director with the United
States Surgical Corporation in Norwalk, Ct.
Class of '76
Jeannot R. Barr has his own art business,
with offices in New York and Dallas, selling
to museums in the US, Canada and Europe
as well as to private collectors. He is also
writing a book and has a TV show on the
art market on a local station in Texas.
Garrett R. Bowden is a vice president with
the Cross and Brown Company, a real
estate brokerage/management firm in New
York. Kent K. Bullock is a manager with
A.L. Williams in Mesa, Az. Bruce Burnam
is an auditor with SelecTV, a pay TV firm in
California. Joseph E. Cochran II, vice
president with the Provident Energy
Company in Phoenix, was selected as an
Outstanding Young Man of America. V.
Frank Colangelo is a fleet computers
manager with Lykes Bros. Steamship Co. ,
of New. Orleans. He is charged with the
research and development of on-board
computer applications in both
administrative and technical areas. Barbara
Ackley Crofts is a senior accountant with
Arthur Anderson and Co. and is living in
Huntington Beach, Ca. Gabriel Cuellar has
been transferred to Miami with Graco, Inc.
where he is their sales manager for South
America. Cassandra S. DeBerge has been
promoted to vice president of the
international department of the Arizona
Bank. George Fong is managing director
with Beneficial Finance (HK) Ltd., as well as
assistant vice president and representative
of the parent company, The Consolidated
Bank and Trust Corporation,
Philippines-Hong Kong Rep. office in Hong
Kong. Warren A. Gresham, Jr. is manager
of the Europe/Africa division of
International Minerals and Chemical
Corporation in Mundelein, 11. Lynette
Guzzino is an account supervisor with
Wells Rich Green in New York. Kirk Dale
Haws has moved to Athens, Greece as
regional manager with the Clark Equipment
Company of North Dakota. Michael D.
Hennessey has been promoted to the
position of international sales manager with
the Dover Corporation/Blackmer Division,
20
where he has been servicing distributors in
the capacity of area manager in Latin
America. He has been with the firm since
1980 when he was hired as export
coordinator, after three years experience
with International Packaging Systems, Inc.
Steve Hering is with First Northwest
Bancshares, Minneapolis and is heading up
their Singapore representative office. R. Jon
Kailey and his wife, Kristin, have moved to
Saudi Arabia where he has transferred as
marketing manager with Owens-Corning
Fiberglas. Jack Isao Kakuda is a trader of
proprietary cash/financial futures and
foreign currency arbitrage with Lehman
Brothers, Kuhn, Loeb Inc. of New York.
Mark J. Kerrissey is the vice president-Latin
American division with the Santiago
Trading Corporation of Houston.
Christopher O. Kroos has left Chrysler after
spending five years with them in Australia
and the Middle East. He is joining
King-Seely Thermos Company, a division of
Household International as vice president of
marketing. David W. Loeb is living in Chile
where he has been appointed territory
manager of Chile, Uruguay, and Brazil for
John Deere Intercontinental Ltd. Ram
Manikkam and his family have relocated to
the Port Washington, Wi. area where he
has been appointed to the position of
technical services manager with Koehring
Construction Equipment. Bob Morey is a
service representative with International
Harvester in Vienna. W. Scott Morris has
been appointed second vice president,
leasing, with the First National Bank of
Omaha. Cynthia (Leidner) Muller is
residing in New York with her husband,
Carl, where she is assistant treasurer with
the Morgan Guaranty Bank, consultants to
MNC Treasurers. Edward R. Newill has
been promoted to market manager of plastic
surgery/special surgery equipment at the
main offices of American Heyer-Schulte
Corp. of California. Carlos Noble has been
named second vice president of Northern
Trust of Chicago. Brian Noon is a
marketing manager for Western Europe and
the Caribbean with Ecko Housewares of
illinois. Mike Nystrom is a senior
accountant with L.F. Rothschild, Unterberg,
Towbin of New York. Michael A. Perlino is
the general manager with the Singapore
branch of Harris Bank, Chicago. Thomas P.
Ringdahl is an international sales manager
with DATA South of Charlotte, NC. He is
living in Lake Wylie, SC with his wife,
Deborah. Ronald B. Schuh is a pilot with
Southwest Airlines of Dallas. Robert J.
Segota is a regional sales manager for Latin
America and the Caribbean with the
Whirlpool Corporation of Michigan.
Michael Short has been named vice
president and corporate banking head of
Citibank Nagoya, Japan. T. William Smale
is a distribution manager with Digital
Research of Pacific Grove, Ca. , a company
specializing in micro-computer software.
Lindsey Stewart is an account executive
with the Xerox Learning Systems in illinois.
Richard S. Thiessen has moved from Italy
to Singapore where he has accepted a
position with Brown and Root. Gloria A
Trierweiler is an account manager in charge
of new product development for Planter's
PeanutslDivision of Nabisco Brands with
the Benton and Bowles Advertising Agency.
Michael Hennessey 76 Barbara Griffin Marchese 78
She is living in Cliffside Park, NJ. Douglas
Trigg is an account director with McCann
Erickson Worldwide and is residing in
Kettering, Oh. with his wife, Janet. Cliff
Wall is a sales representative in south
central Texas for the Siemen Corporation, a
medical equipment manufacturing
company. Margo P. Wilton has accepted a
new position as senior analyst for the Texas
State Securities Commission in Austin.
Jeffrey P. Woidneck is living in Anaheim,
Ca. where he is employed with Business
Telephone Systems. William L. Wray is a
merchandiser-product development with
Blue Bell GmbH in West Germany. Thomas
E. Zapp has moved to Valencia, Venezuela
where he is working as territory manager of
marketing for John Deere International,
LTD.
Class of '77
Richard F. Avery is a region accounting
manager with the Geofrac Division of
Geosource Inc., an oil and gas well service
in Midland, Tx. William Bennett is a
national marketing director for the Steiner
Corporation, an American linen supply
company in Salt Lake City, Ut. Ralph G.
Bernfeld has been named president and
managing director of Goodyear de Panama,
in South America . Margaret (Baldwin)
Bigelow is associate vice president with
Manufacturers Hanover Trust in New York.
Albert C. Blunt is regional parts and service
marketing manager with Caterpillar Far East
Ltd. in Hong Kong. William S. Brackney is
the assistant supervisor of reservations and
sales with Piedmont Airlines of Reston, Va.
Boyd Brady is a district sales manager with
the Waldon Company of Canada. Peter D.
Browne is a stockbroker and assistant vice
president with Kidder Peabody & Co. in
San Francisco. He and his wife, Susan Stern
Browne ('77), are residing in Alemeda, Ca.
Thomas Chamberlain, Jr. is an operations
manager with Dr. Pepper/Canada Dry
International in New York. Steven Clarke
has accepted the position of international
marketing manager with Peabody Myers
Corp. of Illinois. He had served as a
Thunderbird resource person in Melbourne,
Australia . John M. Clatterbuck has left
Bank of California to join Banker's Trust
Company in Taipei as assistant vice
president. Laurence E. Crabb is a general
merchandise manager for DownerslJansport
of Wisconsin. James A. Cracco is on the
corporate staff of the Burroughs Corp. He is
the manager of acquisitions and divestitures
for the company, which has just recently
THUNDERBIRD WINTER 1982
acquired the Memorex Corp. John B.
Cypher is a sales representative for
Nippon-Denso of California and is residing
in Longbeach. Susana Del Carpio IS
assistant vice president with the Texas
Commerce Bank of Houston in their Latin
American division. John L. Draheim has
been promoted to loan officer in the foreign
trade department of Union Bank's
Chartered Bank of London in the San
Francisco office. Julie (Keefe) Fordyce is an
assistant vice president with the Credit
Commercial de France in New York. Forres
Genaro and his wife, Teresa Grace, are
enjoying their new home in Highland, Ca.
where he is working as an account
executive for Ambassador Cards, a division
of Hallmark, Inc. Belinda G. Goldberg is a
personnel director for Bullock's Department
Stores in Northridge, Ca. Sharon Graham is
living in Paris where she is employed with
Made in France International. Randy F.
Graves is a senior sales representative with
Wang Laboratories in Orlando, Fl. Vickie
A. Griswell is a manager in the Human
Resources Information Systems Division of
the Storage Technology Corp. in
Broomfield, Ct. Joseph J. Gross, Jr. is a
market research analyst with Dow Chemical
USA-Agricultural Products Division in
Midland, Mi. Siegfried Gunsenheimer is
with Gunsenheimer Management
Consultants Euro Marketing Services in
Boulogne-Billancourt, France. Arthur L.
Hale is the vice president in the Latin
American Division of AVIQUIPO Inc., an
aviation supply company of Lyndhurst, NJ.
Kathleen M. Hansen has returned to the
US as a business analyst with Levi Strauss
International of San Francisco. Bradley C.
Hodge has been named president of the
Overseas Oil & Gas Company of Dallas.
Robert J. Holmes is a regional credit analyst
for the General Electric Credit Corporation
in Dallas. Edward A. Irons has been
transferred to Hong Kong with Graphics
International (HK) Ltd ., where he holds the
position of executive purchasing manager.
James S. Johnston, formerly the US
Representative of Japan's Descente Ltd. and
Denver office manager, has been appointed
vice president of Descente America, Inc.,
the new US sales subsidiary in New York.
Eddie J. Jusino, Jr. recently joined First
Interstate Bank of California as
administrative assistant in the US banking
division and is residing in Marina Del Ray.
Karen A. Kleinschmidt has been promoted
to senior profit analyst and trust officer for
the Investment Management Division of
Crocker National Bank in San Francisco.
Dale Kramer is a manager of inter-company
sales, operations, and custom service with
the BF Goodrich Chemical Group/inter­national
marketing division in Ohio. Lynn
M. Kuchinski has been promoted to senior
data base analyst with the Coastal
Corporation of Houston. Peter A. Lamb is a
corporate service officer with the New York
branch of Toronto-Dominion Bank, where
he is involved in international money
markets. Jack A. Lavin has been named
assistant vice president with Citibank in
London. David J. Loechel has joined
American National Bank & Trust of Chicago
as second vice president of International
Banking. Dave H. MacCaulay is a regional
marketing representative with IBM in New
THUNDERBIRD WINTER 1982
York. Craig MacDonald is with Caterpillar
Overseas SA in Geneva, where he is
employed as a marketing analyst, as well as
teaching a marketin!5 Lla"" at Webster
College. Raulee Marcus has left Armour
Dial (Greyhound) to join the Neutragena
Corporation of Los Angeles. John R.
McLaughlin is a controller with General
Mills Restaurant Group Inc., international
division, in Orlando, Fl. Marcia Mergler
has joined the National Bank of North
America in New York as a senior banking
officer, where she will be working in the
international banking group's MidlFar East
Region. Ziya Muhamedcani has moved to
Tokyo with his wife, Safiye, and their one
year old child, Aziz. He has transferred as
new products development manager with
Johnson & Johnson, K.K. Charles J.
Munson II is a manager in the money
management department of Valmont
Industries of Valley, Ne. Farshid Najafi is a
self-employed developer in Tempe, Az.
Meredith Bell Nowak has been promoted
to international officer with the Rhode
Island Hospital Trust National Bank. Shirl
Parker is a purchasing manager for the
Sunbeam Appliance Co. for their plants in
Brownsville, Tx., and in Metamoros and
Sal tello, Mexico. Cynthia R. Schiavo is a
senior marketing staff analyst with
Baxter-Travenol, a hospital supply company
in Deerfield, II. Suzanne Schutte is living in
Paris where she is with Parfums de Prestige
International. Randolph J. Senkus is an
operations analyst with Babcock & Wilcox in
Wickliffe, Oh. Andrew Silling is an internal
auditor with the Greyhound Corp in
Phoenix. Anthony M. Souza is with
Citibank in Seoul, So. Korea. Robert G.
Starks is with the Ford Motor Company in
San Jose, Ca. where he is their
merchandising manager. Max R. Tarbox,
president of Elmer's Weights Inc., has been
appointed to the Export Council by the US
Secretary of Commerce. The purpose of this
group is to increase the US share of world
markets by encouraging small and medium
size firms to engage in exportation. Paul
Tolnai is the Western regional sales
manager with the Applied Solar Energy
Corporation of Ca. J. Wright Witcher is a
marketing planning coordinator with Eli
Lilly Canada Inc. and is residing in Ontario.
Joseph J. Yurgiewicz is the area manager of
Latin American truck components
marketing for the Eaton Corp. of Fl.
Class of '78
Frances M. Aldrich is assistant treasurer for
J. Henry Schroder Banking in Miami, Fl.
Pierre L. Bachoc has moved to London as
cattle products marketing planning
manager, EuropelMideast/Africa with Eli
Lilly Pharmaceuticals Agriculture Division.
His main responsibility is to prepare their
European affiliates for a unique dairy cattle
feed additive to be introduced in 1984.
Teresa (Baker) Backstrom is a technical
advisor with Bank of America in San
Francisco. Paui D. Brady is an assistant
manager of telecommunications for
DYNARABIA in Saudi Arabia. John W.
CodgiIl is a special agent with the US
Department of Labor-OIG in Detroit. Lamar
J. Crevassa is vice president of marketing
with Electronics Trade Center, Inc.,
importer/exporter of Sony and Pioneer
products of Miami. Leslie J. DeRoy is also
in Miami where she is the director of
marketing with Alexander Grant & Co Her
responsibilities there include all phases of
marketing: advertising and PR as well as
strategic planning for the tri-county area.
Jon Dietz founded Financial Statement
Services, a high-speed computer printing
service for credit unions, on the West
Coast. John E. Durbin recently transferred
to Houston from Ponca City, Oklahoma,
where he is employed as a financial analyst
in petroleum operations with the
Downstream Treasury Department of
Conoco, Inc. George K. Easton is teaching
in the department of management and
marketing at the California State University,
Fresno campus. Ibrahim M. Fahoum has
accepted a position as manager of the Saudi
Arabian Division of the Arab Bank Limited
in Bahrain. John J. Ford is district manager
for Circle Air Freight in Rockford, II. Dean
B. Gadda is a sales/operations manager
with the Contact Lumber Co. in Portland,
Or. Paul G. Gomez is with Dean Witter &
Co. in California. Roderick and Anne
(Whistler) Hornstein are in Santa Fe, where
he is general manager of the Hornstein Oil
Co., bulk and fuel jobbers in New Mexico,
and she is assistant vice president of the
Bank of Santa Fe. Herbert L. Jensen is a
senior lecturer in the department of
accounting at the National University of
Singapore. He resides in Kent Ridge with
his wife, Peggy. Scott A. Johnson has
finished his second year at the Indiana
University Law School and is "looking
forward to an extremely exciting and
lucrative career in international corporate
law." Robert A. Johnstone is a marketing
analyst with the Boeing Commercial
Airplane future product strategy
development group in Bellevue, Wa.
Aubrey S. Jones is a senior business analyst
with the Storage Technology Corporation of
Broomfield, Ct. George R. Joslyn is
employed with the Arnel Development
Company in Santa Ana, Ca. Joy A.
Kovalenski is a product counselor in new
product marketing with Avon's gift and
home decorative division in New York. Guy
D. Langvardt has been promoted to
executive account manager with the NCR
Corporation in Phoenix. Howard Buck
Hong Lee has joined the Asia division of
Manufacturers Hanover Trust in New York
where he handles international lending
accounts. Angela (Brown) Linburg is a real
estate broker with Merrill Lynch Realty and
is residing in Carrollton, Tx. Elaine
Lindquist is a marketing product manager
with All-Steel of Aurora, II. Michele Lionel
was performing in summer stock theatre in
Northern Ontario, after returning from
Cyprus and the Golan Heights where she
entertained UN troops. Barbara (Griffin)
Marchese has been promoted to vice
president/account executive of Adams
Associates, an advertising agency of York,
Pa. Jean Paul Martin is with Laboratoire
Rocal in Paris. Ana Maria (Briones) and
Abdolreza Masoodi are in El Paso, Tx.
where Ana Maria was recently promoted to
sales director with Holiday Inn Midcity. She
invites all local Thunderbirds to contact her
there. Abdolreza owns the A & A
Photography Studio there. Ruth S.
21
McCurdy is a product manager with AT&T
Long Lines of Morris Plains, NJ. Robert A.
Mendez is a communications manager with
Mexicana Airlines in Los Angeles. Raymond
E. Moon is an administrator with ERC
Wellhead of Oklahoma. He and his wife,
Rassadakorn, are residing in Oklahoma
City. Andrew Ng has been transferred to
Hong Kong with Beckman Industries where
he is a bioresearch sales engineer. Gail
Ozawa is a sales representative with the
Airborne Freight Corporation in Los
Angeles. Patricia A. Powell has transferred
to Cleveland, Oh. with the Gray Drug Fair
Division of Sherwin-Williams. She writes,
"The reputation of Thunderbird and superb
assistance from the placement office opened
the doors for me to Sherwin-Williams.
There are few 26-year-olds who are given
opportunities like this one with Gray Drug
Fair, which makes me truly appreciate the
role that Thunderbird has played in my
life." Raghavendra Prasad is a market
analyst with the IMI USA Co., a subsidiary
of International Industries in Houston. He
was selected from 220 applicants and he
writes, "The edge I had over all of them
was my Thunderbird degree." Douglas H.
Pressman has transferred, as assistant vice
president of the Bank of California, to
Bangkok. Kathryn Palmer Rathvon is a
manager in the international loan
department of the Crocker National Bank in
San Francisco. She writes that she is "proud
to see so many T -birds in Crocker's
international division." Jeffrey B. Scannell
has left RJ Reynolds Industries to accept a
position as senior financial analyst with the
Adolph Coors Co. of Golden, Co. Gregson
T. SHff is a budget control analyst with the
Northrop Corp. and is residing in Fullerton,
Ca. David A. Steffen is in Chile where he
is the manager of retail sales promotion for
Goodyear International. Ann Swank is a
marketing manager with General Mills, Inc.
in Memphis, Tn. Joseph Weber is an
assistant sales manager for Good-All
Electric, Inc. in Ft. Collins, Co. His
international responsibilities include new
market development as well as servicing a
worldwide network of distributors.
Class of '79
Craig Adams is a project manager for
Synergo International, an international
marketing firm of San Francisco. Brian D.
Althaver has been appointed commercial
loan officer with the National Bank of
Detroit. Barbara L. Armour is the manager
of military communications with AT&T
Long Lines in Washington, DC, responsible
for Bell System's annual revenues of
approximately $1 billion from the Army,
Navy, Air Force, Dept. of Defense, Joint
Chief of Staffs and White House accounts.
William Arnolds has assumed the position
of account executive, also with AT&T Long
Lines, in Troy, Mi. Dr. Mary Baron is a
resident graduate professor of the
University of Maryland's first graduate
program in their European Division in New
York. She writes that in her "wonderful
aSSignment" she "intends to stress
cross-cultural training as she is preparing
military and civilian graduate students to be
professional counselors." Steven A.
Bergkamp is an assistant secretary with
22
Manufacturers Hanover Trust in New York.
Jeffrey M. Biddle is an internal auditor
with the Greyhound Corp. of Phoenix.
Michael Borges has taken a new position as
president of the American Marketing
Company in Santa Ana, Ca. Jay Brandon is
a financial planner and analyst with NL
Baroid of Houston, Tx. Robert R. and
Catherine (O'Malley) Burke are living in
Bethlehem, Pa. where both are employed
with the Bethlehem Steel Corp. Robert is a
sales representative for the company, and
Catherine is a credit analyst there. Donald
J. Caldwell is a CPA with Delap, White, &
Raish of Portland, Or. He and his wife,
Joni, are residing in Lake Grove. Timothy
P. Campbell is a district sales manager for
United States Lines in Washington, D.C.,
responsible for mid-Atlantic exports to the
Far East. Tim Caverly is manager/exporter
for Manufacturers & Trade Trust of New
York. Conrad M. Eilts has been promoted
to second vice president of the Bahrain
branch of Chase Manhattan Bank, NA.
Lynn K. Engstrand has gone into the
consulting business in Washington, D.C.,
where her firm, EngstrandiKincaid
Consultants, is heading up a restructuring
of the agriculture program in Jamaica.
David Feld is an international officer for
Maryland National Bank, responsible for
their lending business in Venezuela,
Colombia, Ecuador, Peru, and Chile. David
W. Ford owns an import company in
Oakland, Ca. Phillip H. Foster is the US
sales representative for International Sales
Promotion Inc., in the Republic of South
Africa. Patrick Francois is with the Societe
Auchan in Villinueve d'Asoq, France. Jack
Glen is an internal auditor with the
Greyhound Corp. in Phoenhc Francois
Guerin is reSiding in Paris where he is with
Roga Garnier. Thomas J. Hanson is a
corporate purchasing agent for U-Haul
International in Phoenix. David K. Heller
and his wife, Susan, are residing in San
Francisco where he has been promoted to
Lieutenant Commander with the US Navy.
Tom Hofmanner visited AGSIM in
September and informed the alumni office
that he has taken a position as junior
account executive with Tragos, Bonnage,
Wiesen danger, & Ajroldi, a Swiss
advertising agency located in Zurich. Diane
Homa is vice president of Audio Visual
Innovations of Florida. William L. Hussey
has been promoted to trade finance officer
with the First National Bank of Chicago.
Brian H. Jacobson is a systems specialist
with the CPT Corp.lCanada and Far East
Divisions in Minneapolis. Rosalie Johnson
has left Seagrams in New York to take the
position of manager of business planning
with PepsiCo Foods International in their
Dallas headquarters, handling international
snack food products. Kyoko Kent is a
nutrition specialist with American McGaw
Pharmaceutical Co. of Irvine, Ca. Liz
Konold has accepted the pOSition of director
of annual giving at the University of
Redlands in California. Robert S. Malott
and his wife, Laiyee, are living in Ohio
where he is recuperating after sustaining
back injuries in a Colorado car accident. He
was recently offered a contract to work for
E-Systems as a logistics coordinator in their
Cairo office providing support services for
the MFO peacekeeping operation in the
Sinai, but was unable to accept due to
pending surgery. Nancy Fuhrman Martin
has taken a position as financial analyst
with Blue CrosslBlue Shield. She and her
husband, Peter Martin are living in Denver,
Co. where he has been transferred with the
Mitsubishi International Corp. Patricia
McArdle-Fendrick is an attache with the
Foreign Service in the Department of State,
Washington, D.C. William R. Moore has
left DHL International to join with Merrill
Lynch as an account executive in Panama
City. Steven L. Munsell has been promoted
to sales manager for the Tulsa District of the
MISCO Supply Company. He writes, "The
training and education received at
Thunderbird has paid many dividends thus
far, not the least of which is my rapid
advancement within the company."
Stephen J. Nolan and his wife, Judy, have
been in Jerusalem since July 1980, where he
is serving as an administrative officer in the
American Consulate. Stephen K. Orr is
assistant vice president in the international
finance-foreign exchange division of
Citibank in New York. Yongho Park is a
marketing manager for Superline in
Belleville, NJ. John W. Peecher has left
Bank of America to join the Mitsubishi Bank
of California and is residing in La Habra,
Ca. Emily R. Rayes has accepted a position
as assistant manager with Citibank NA in
Manama, Bahrain. Kenneth D. Roberts has
been appointed assistant to the general
manager for Target Airfrei